Selby offers salvation to first time buyers priced out of York

Would-be first time home owners priced out of the market in York are beating a path to a new low-cost housing venture just 30 minutes away in Selby. They've found that by moving outside the city, but still within travelling distance of their favourite haunts, they can save up to £50,000 on the cost of a one-bedroom property and potentially more on a two-bedroom home.

Their salvation has come in the shape of Redrow's price-busting Debut @ Selby development, which features brand new one and two-bedroom homes from less than £60,000.*

One young couple who attended a special first time buyer event organised by Redrow were stunned to find they could buy a brand new home in Selby at little over half the price of a parking garage that was being advertised for sale in York city centre.

Richard Sunley, 22, who was looking for a first home with his partner Claire, says: "Originally we were looking for a home in York, which was only leading to disappointment. Everything was so expensive and the final straw came when we saw a garage advertised for £150,000. It was then that we decided to move our search out of York to see what else was available.

"Selby is more than manageable and hopefully it will give us a jump start onto the property ladder"

Redrow's Debut development, on Holme Lane, Selby, features 123 properties ranging from practical one-bedroom studios to spacious two-bedroom duplex apartments - all promising the concept of affordable, yet comfortable living.

Current prices are from £56,500* for a one-bedroom ‘D1' studio up to £99,500** for a two-storey ‘D4' design with two double bedrooms and bathroom at entry level and an open plan living, dining and kitchen area above. All of the properties fall well below the stamp duty threshold - another big plus for first time buyers.

Giselle Ledgard, area sales manager for Redrow Homes (Yorkshire) says: "According to the latest statistics, the number of first time buyers entering the property market is currently at its lowest since 1980.

"Our special event at Selby certainly brought lots of interest from people who just can't afford to get onto the property ladder in York itself. Indeed, our own research has shown that a typical one-bedroom flat in the city now costs £109,950.

"Many would-be home owners are waking up to the fact that it's possible to get from Selby to York by train in around half-an-hour and the town itself has a comprehensive range of shops, restaurants, pubs, night clubs and health facilities all on the doorstep or our development."

Redrow has put special measures in place to stop buy-to-let investors snapping up the Debut homes and purchasers are able to defer 15% of the initial purchase price for up to 10 years, which is another great saving.

Home owners also pay a single monthly service charge, which includes the gas, water and electricity bills, as well as buildings insurance, external maintenance - and even the cost of internal window cleaning - making it easier for novice home owners to manage their monthly outgoings.

Other first time buyers keen to get a foot on the property ladder can find out more by logging on to Redrow.co.uk.

General information about Debut, including video walk-throughs of some of the properties can be found at Debutbyredrow.co.uk.

* Price quoted of £56,500 includes Redrow Easi-buy assistance, full price is £66,999.

** Price quoted of £99,500 includes Redrow Easi-buy assistance, full price is £116,500.