Successful home buying is in the timing

Buying a new home remains a sensible investment choice, especially with the housing market now showing genuine signs of recovery. But the critical issue of knowing exactly when to buy is still the fundamental key to getting a maximum return.

With new home prices at their most affordable for years and builders offering special incentives designed to help home-owners sell their current property in as little as four weeks, increasing numbers of househunters are now realising that buying conditions are perfect.

Jason Colmer, Regional Sales and Marketing Director for Taylor Wimpey, comments: “It’s important that buyers don’t allow themselves to get confused by the almost constant stream of data and news surrounding house prices.

“The bottom line is that house prices are at their cheapest for years and even if they continue to drop, the rate at which they have fallen has already slowed dramatically in the past few months.

“This means that for all types of movers – whether first-time buyers or those with a current home – this is a prime time to grab a foothold on the property ladder or upgrade to a bigger home.”

Taylor Wimpey, which builds new homes under the Bryant Homes and George Wimpey brands, has also seen a steady increase in cash buyers investing in property, particularly parents buying first homes for their children, and more ‘off-plan’ purchases for homes months ahead of them being completed.

Adds Jason Colmer: “There is growing confidence in the market, so those who are serious about buying new should take the plunge.

“Average house prices are around 3% lower than they were a year ago. But Rightmove reports that house values increased by 0.6% in July and the Nationwide recorded a 1.8% increase in prices from April to June.

“The number of mortgages approved by banks rose to a 15-month high in June and was 65% higher than the same time a year ago. These are very telling signs that savvy homebuyers recognise the time to buy is now, rather than waiting to see what may develop over the coming months.”

Latest findings from the Nationwide also show that February 2009 represented the lowest point in the market, when the average house price was £147,746; down 17.6% compared with the same time last year.

Since February 2009, the average price has risen by more than £11,000 to £158,871.

According to Taylor Wimpey, new home purchases made using its incentive schemes – like George Wimpey’s Easymover and Bryant’s Marketmover – enable current home-owners to make a hassle-free move to a new home.

Taylor Wimpey can arrange valuations and market the customer’s existing home; pay their estate agency fees; assist with Stamp Duty and legal fees; provide a Home Information Pack (HIP) and free removals.

First-time buyer initiatives are also available on selected homes, offering a range of ways to help customers step onto the property ladder with ease, including assisting with a deposit, helping them to arrange a mortgage, and contributing towards legal fees.

Says Jason Colmer: “As builders we are getting more and more creative with the incentives we offer and in many cases we can effectively tailor-make a package to meet very specific individual requirements.

“This summer we have helped increasing numbers of second-time buyers to sell their existing home in as little as a month, as well as offering quick and simple part-exchange deals on selected new properties.

“Whatever circumstances people are in, the situation is very positive and those who haven’t yet taken advantage of the lower cost of purchasing a home should make sure they don’t miss out.”

Taylor Wimpey offers a range of apartments and family homes at George Wimpey and Bryant developments located as follows:

BEDFORDSHIRE

Billington Grove, Leighton Buzzard
Castlemead, Pitstone
Greenacres, Stotfold
Westlow Abbey, Bedford
Woodlands Park, Bedford

BUCKINGHAMSHIRE

Broughton Fields, Milton Keynes
Broughton Gate, Milton Keynes
Buckingham Park, Aylesbury
Heathley Chase, Milton Keynes
Oxley Gate, Milton Keynes
Oxley Woods, Milton Keynes
Parklands, Woburn Sands
Willow Lake, Milton Keynes

CAMBRIDGESHIRE

Broadway Fields, Peterborough
Vision, Peterborough
Willowcroft, Peterborough

For more information visit bryant.co.uk or georgewimpey.co.uk.