Is the market buoyant for new homes?
PUBLISHED: 09:08 11 July 2018
Recent reports have suggested a slowing of the housing market, with prices predicted by some to fall further over the coming months. But this trend is largely influenced by the London market and may mask what is happening in the rest of the country. Edward Parker, managing director of Bennett Homes, discusses.
Some argue that house prices in London have experienced their steepest annual fall in almost a decade, with London now paying the price for huge rises over recent years and supply outstripping demand.
However, in East Anglia, where we have a number of current developments, footfall and reservation rates remain strong. We believe this is the result of the high demand, especially for new homes, as buyers increasingly recognise the range of benefits that come with them.
Purchasers appreciate having the latest energy efficient heating systems, excellent insulation and low maintenance with all new appliances covered by warranties. And, with many features included as standard in our new homes, they don’t have to pay extra for some of the fixtures and fittings.
With a new build, there are also schemes to help buyers get onto the property ladder for the first time or to find a home suitable for a growing family.
The government’s Help to Buy Scheme remains popular with our customers, helping them to raise the level of deposit needed.
There is also our own equity share scheme where you can fully own your own home but pay only 75 per cent of the market value.
At the moment this is available on spacious two-bedroom apartments at our Saxon Green development in Ashill currently for sale at £112,000 and at Woodlands in Old Costessey where a three bedroom house is available for £180,000.
Regionally, property specialists remain upbeat about the housing market where there continues to be strong demand from buyers looking for their next home.
Do come along and take a look at some of our current developments: Woodlands at Old Costessey, The Signals at Watton, Saxon Green at Ashill and Tudor Gardens, Framlingham – and just launched, Abbey Gardens at Thorpe-le-Soken. We look forward to welcoming you.
You can contact Bennett Homes or on 01284 766057.
Bennett Homes has sponsored this column.