Weathering the property market

The latest housing market survey released by the Royal Institution for Chartered Surveyors (RICS) highlighted positive increases in new buyer enquiries and instructions to sell across the North West and Shropshire – a view that has been echoed by Golborne-based Persimmon Homes.

On average, Persimmon, currently building in Baguley, Billinge, Bury, Didsbury, Ellesmere Port, Helsby, Irlam, Leigh, Lostock, Newcastle under Lyme, Openshaw, Shrewsbury, Spinningfields, Stafford, Stalybridge, Warrington, Wigan and Winstanley is receiving around 15 part exchange enquiries every week – a clear indicator that home owners are still in the market and are looking to trade in their existing property for a larger home.

In addition, the company’s sales are already 87 per cent up on first-half budget – figures that fly in the face of opinion from some quarters that the UK housing market is in decline. Interestingly, first time buyer visitor numbers to site have also increased more than two-fold and this success is being attributed to the launch of Persimmon’s HomeBuy Direct initiative.

With HomeBuy Direct, those who have found themselves priced out of the housing market are now able to secure a brand new property at 70 per cent of its market value. Properties are being sold under the Government’s HomeBuy Direct scheme, which will enable households with incomes below £60,000 who can not otherwise afford to purchase unassisted on the open market, to buy a new build home.

House hunters will be required to raise funding of at least 70 per cent of the purchase price. The remaining 30 per cent is made up by an equity loan which is co-funded by the Government and Persimmon Homes.

Commenting on Persimmon’s recent success, Claire Jarvis, sales manager for the company’s North West region, said: “While the press perpetuates negative stories about the property market which in itself can cause anxieties, in contrast we are seeing continued demand across all our developments.

“We have been extremely busy for the past few weeks and, although conflicting news about the property market may have unnerved a handful of potential purchasers, the reality is, we are experiencing continued high demand for new homes.

“We are convinced that with confidence returning to the new homes market, with interest rates at an all time historic level along with practical schemes such as HomeBuy Direct, house hunters will realise that there has never been a better time to purchase a new home.”

For further information on the HomeBuy Direct scheme, visit persimmonhomes.com.