Why wait says Persimmon

Following months of negativity regarding the state of the housing market optimism is slowly starting to appear and, with interest rates set to remain at a low level for the forthcoming month combined with small rises in house prices in the area, Persimmon is urging buyers not to wait.

Confidence in the market boosted last month after reports from Rightmove.co.uk earlier this year showed that house prices increased in one of the sharpest rises since 2003. Faith that the market will continue to improve was rewarded last week after Nationwide announced that house prices have risen for the third consecutive month, the fastest three month on three month gain since 2007.

But what does this mean for househunters in the area? Mariana Knight, sales and marketing director for Persimmon Homes North Midlands, explains: “The past year has clearly been a very difficult time for the house building industry, in addition to many others, and we are currently experiencing some tentative signs of improvement. House prices are beginning to creep up again in some areas, so I would urge those who are looking to take advantage of low offers to move quickly before they increase even further.
“Although no-one knows for sure exactly when we will see the market return to normal it is encouraging to see that people are once again returning to the market and using the initiatives available to secure themselves a property.”

Persimmon has an improvement in its number of sales, which have steadily increased since the start of the year. This is even more apparent by the fact that there are low levels of stock properties remaining across most of the housebuilder’s developments, leading to a rise in the number of off-plan sales.

“Part of our success can be attributed to the fact that we know what purchasers want,” adds Mariana. “We pride ourselves on meeting the demands of the local market and always work hard to keep abreast of industry trends to ensure we tailor our developments to suit the needs of our buyers.

“That’s why we’re encouraging all potential purchasers to discover what we could offer them. Our sales advisers have years of industry experience behind them, and are on hand to provide their expert advice and make the home buying process easy and stress free.”

Furthermore, with statistics from the British Bankers' Association showing that mortgage approvals have hit their highest level for more than a year, up 61 per cent in June, compared to the same period last year, it seems banks are loosening their strict lending criteria, which is a positive sign for house hunters.

Mariana, comments: “Buyers and investors are once again choosing to plough their cash into bricks and mortar, as the uncertainty of saving with banks and other financial institutions due to low interest rates continues. They recognise now more than ever, that over the long term, property ownership will provide a better return on investment.”

Persimmon Homes North Midlands has developments in Nottinghamshire, Leicestershire, Derbyshire, Staffordshire and Warwickshire. For further information on the full range of properties available from Persimmon Homes North Midlands, visit persimmonhomes.com.