First time buyers prepare for the future at Millfields, Tamworth

Housebuilder Walton Homes reports that first time buyers in the West Midlands are bucking national trends of purchasing smaller properties as their first home and instead buying larger family-sized houses.

These latest trends have been reported at a number of Walton Homes’ sites but in particular at its Millfields development on Brookside Way in Tamworth where 60 per cent of those homes sold have been purchased by first time buyers. Millfields is one of Walton’s more luxury developments in the West Midlands, boasting a range of three and four bedroom properties.

Helen Rollason, sales manager at Walton Homes said: “Typically, you expect first time buyers to go for smaller homes, commonly with two bedrooms, and then after around four years homeowners will usually think about moving up the property ladder into a larger home which can accommodate a family or provide extra living space as people move up the career ladder.

“At Millfields we expected to see the houses sold to those moving into their second or third home but this hasn’t been the case. Instead, both visitor and purchaser trends suggest that Millfields is actually proving more popular with couples buying their first home and planning for the future, rather than with second steppers. Currently, we have sold 45 per cent of homes at the development, 60 per cent of which have been bought by first time buyers.”

According to The Independent, the average age of first time buyers in August 2012 was 29, but in some areas this age can rise as high as 35.

Helen continues: “The rising age of first time buyers means that priorities for many young couples have changed. If people continue to wait until later in their adult life to buy their first home then it is likely we will see an increase in demand for larger homes amongst first time buyers over the coming years.”

In a bid to help househunters purchase a new home by the end of this year, Walton Homes will pay the reservation fee and legal fees on all reservations made on properties at Millfields between now and 31st December 2012 – meaning househunters can secure their preferred house at the development but they don’t have to make any payments in the run-up to Christmas.

Millfields is a traditionally-styled development comprising nine detached houses and two bungalows. Three bedroom houses are available from £189,950 and the four bedroom executive homes at Millfields range in price from £219,950 up to £269,950.

The new homes at Millfields come with luxury fixtures and fittings, including Symphony kitchens and contemporary bathrooms equipped with Porcelanosa tiling and sanitaryware. All the properties include a built garage or allocated parking space alongside spacious front and rear gardens.

Millfields is situated in an ideal location close to local amenities and benefits from its position close to the A5, which links the area to the A38 and the M42. The show home and marketing suite is open from 11am – 5pm Thursday to Monday inclusive of the weekends. For further information, visit waltonhomes.co.uk.