Shared equity tempts buyers over Easter weekend

Developers are preparing for one the most defining periods of the credit crunch so far, as they wait to see if increasing buyer interest leads to sales success over the crucial Easter weekend.

Buoyed by the surge in home buyer activity since the start of the year, developers have gone into overdrive to ensure that interest translates into sales. According to SmartNewHomes.com, the UK’s leading new homes website, new homes are being marketed at some of the most affordable prices seen for over three years, and along with the range of incentives on offer, there has rarely been a better opportunity to buy a new home.

Research by SmartNewHomes.com has indicated a variety of measures currently proving successful at bringing in buyers in the current market. Leading the way is shared equity, with over 60% of developers viewing this as the most effective incentive. This is due to a combination of their own schemes and the government-backed Homebuy Direct programme, both of which have been at the centre of developer marketing campaigns in the run up to the Easter weekend.

David Bexon, Managing Director of SmartNewHomes.com, comments:

“Easter could be a crucial time for the new homes market and developers will certainly be working overtime to market key initiatives that have already proven effective so far this year.

“Prices have come down enough to bring out the buyers in force, and incentives have been a catalyst for pushing through purchases.

“Shared equity has been a major facilitator, with homebuilders’ own initiatives supplemented by government’s Homebuy Direct scheme, which is now widely available at hundreds of developments throughout the country.”

Developers are cautiously optimistic that the many speculative buyers they have had through the doors in recent months will use the long weekend to make their decisive

Steve Bangs, Managing Director of Linden Homes South East, comments:

“Easter is usually a lively period for developers, as buyers take advantage of an extended break from work to view a range of properties and make a purchase. In a regular market, buyers often turn out in force over the Easter weekend, and recent activity suggests we could see the same this year.

“At the moment it is all about confidence and there are positive signs that this is improving. Buyers have responded well to the level of incentives now available in the new homes market, as well as the competitive prices on offer. Our shared equity schemes have already started selling out, as first time buyers sense their opportunity get on the ladder.

“The extent of the pent-up demand in the market has been apparent all year. If just a small percentage of the current window shoppers choose to buy this weekend it will have a significant impact.”

For more information and to search the database for Homebuy Direct schemes throughout the country visit: smartnewhomes.com/map/offers.aspx