Sibling support beats property trap in Newport

There’s no sibling rivalry for brother and sister Dan and Louise Whittaker as they join forces to book their place on the otherwise elusive property ladder in Newport, South Wales. Dan, 21, and his 19-year old sister, Louise, are among the first customers to legally complete at Redrow’s Alexandra Gate development in the city.

Dan, a food and beverage superviser, at the Celtic Manor hotel and golf resort – venue for the 2010 Ryder Cup – said: “I’ve wanted to get on to the property ladder for two or three years but haven’t had the opportunity or the means.

“My friends think it’s quite funny I’ll be sharing with my sister but, at the same time, they’re jealous that they haven’t got the same opportunity to own their own home.”

Dan and Louise, who’s just qualified as a beauty therapist, will share a two-bedroom, two-bathroom apartment and have just made their all important kitchen and bathroom choices.

“Fortunately with a bathroom each we could choose the tiles we each wanted and we’ll be able to decorate our bedrooms as we want. Hopefully we won’t have too much trouble agreeing on the décor for the other areas.

“We do get on well and one of us can always go back to the family home for a few days if we start getting on each other’s nerves!” said Dan.

Alexandra Gate was their development of choice, largely because of its location and the potential to increase in value.

Dan added: “I wanted to be part of the regeneration that is going on in this part of Newport as, hopefully, it means the property will go up significantly in value. It’s also convenient for my work, which is about a five to 10 minutes’ drive, and you can walk into the city centre.

“We’re looking at it as a relatively short-term investment and hope to be able to afford places of our own in the not too distance future. However, we plan to hang on to it at least until the Ryder Cup in 2010 to see what happens to property values in the area.”

With the average age of a first time buyer now said to be 34, Dan and Louise – who have been living with their mum in Caerleon – have discovered that when it comes to getting on the property ladder early, two bank balances are definitely better than one.

Buying with siblings, or friends, is a trend that Redrow has been witnessing across the UK and has recently produced a special leaflet – and an area of its website – dedicated to the phenomenon, offering some useful advice on the financial and legal implications.

Whether buying solo or sharing the load, others looking to secure a property at Alexandra Gate, alongside the River Usk, can currently choose from one and two-bedroom apartments priced between £125,995 and £159,995, or three and four-bedroom terraces and townhouse from £174,995 to £269,995.

The development is transforming the site of the former Black Clawson engineering works, off Alexandra Way, in Newport. The area is known as Old Town Dock and urban regeneration company Newport Unlimited also has exciting plans here for an office district, an 80 room hotel, a park and leisure facilities.

For further details of Redrow’s homes log on to Redrow.co.uk.

Advice on ‘Mortgaging with a mat’ is available at:

Redrow.co.uk/cms/general/mortgaging_with_a_mate