Last chance for first time buyers

Time is running out for first time buyers in Newport, South Wales, to snap up a brand new affordable home. There are just two properties left at Redrow’s Debut at Alexandra Gate development, as part of major redevelopment of the site of the former Black Clawson engineering works on the banks of the River Usk.

Demand has been high for the stylish yet affordable homes. Almost 70 properties were snapped up in just eight hours when the scheme was launched earlier this year.

Debby Pavitt, area sales manager for Redrow Homes (South Wales) said:

“It is no surprise that we have enjoyed runaway success with the Debut homes at Alexandra Gate and with just two homes left to be snapped up, home buyers will have to act quickly if they don’t want to be disappointed.

“The great success undoubtedly shows there are a lot of first time buyers out there looking for an affordable home that isn’t either run down or in an undesirable area.

“Many of the first time buyers we speak to say they are looking for a home to invest in, but they are unable to find anything suitable within their budget.

“Debut homes suit the busy lifestyle of a young first time buyer, as they are brand new and will therefore require little or no upgrading or maintenance. There are also shared communal spaces tended by Redrow’s own management company.

“Purchasers are able to defer 10% of the initial purchase price for up to 10 years on a fixed sum basis, which reduces the initial outlay, whilst a single monthly service charge covers all external maintenance, buildings insurance and gas, water and electricity bills – making it easy for first time home owners to budget.”

Prices for Debut homes at the Alexandra Gate development started at less than £50,000 and have been available to those who fit the criteria of Newport City Council’s affordable homeownership scheme – Newport City Living.

Cllr Paul Cockeram, Newport cabinet member for adult and housing services, said: “The Newport City Living scheme aims to help first time buyers onto the property ladder who would otherwise be unable to afford their own home.

“It is so important for the future of our city that we help young people who live and work in Newport to get their first steps on the property ladder.

“With all of the redevelopment taking place in the city we want to make sure that everybody has the chance to benefit and we will make sure that all developers make a proportion of their homes affordable for first time buyers.”

The Debut homes are part of a large scheme to regenerate the city and create a thriving 21st century centre for business, leisure and living.

The Debut development forms part of Redrow’s larger Alexandra Gate scheme, which also features a mix of one and two-bedroom apartments as well as three and four-bedroom town houses.

The last two Debut properties are both ‘D3’ designs – two-storey properties with a double bedroom and bathroom at entry level and bright, airy open plan living, dining and kitchen area above. They’re priced at £77,950 with the 10% Easi-buy deferred payment (total price £88,611).

The remaining Debut properties are being offered via Newport City Living.

To qualify for Newport City Living applicants must meet a number of criteria set by the council, including being over 18, in full time employment and already living or working or having a family connection in the city. A full list of conditions is also available at Newport.gov.uk/ncl.

For information about Redrow’s open market homes at Alexandra Gate, visit the marketing suite on Usk Way, Newport seven days a week.

For general information about Debut – including developments in Merthyr Tydfil and North Cornelly, where the only restrictions on purchase prevent buy to let investors from snapping them up – visit Debutbyredrow.co.uk.

Alternatively, log on to Redrow.co.uk for details of Redrow’s developments across South Wales and the rest of the UK.