HomeBuy Direct hailed a success by Persimmon

The new homes property market is inching its way back to recovery, according to Persimmon Homes who this week announces that the Government-supported HomeBuy Direct scheme is seeing a positive impact in getting hundreds of first time buyers and key workers onto the property ladder.

Since the scheme was launched in April, 733 properties have been reserved with 254 exchanges and 131 new owners of a first Persimmon home - a strong contrast to the figures of only a few months ago which saw the number of first time buyers drop to an all time low.

The South West, Central and Southern parts of the UK, including the Essex area, are seeing the greatest numbers take advantage of the scheme with 85 per cent of the total number of properties reserved to date, the remaining 15 per cent derive from the north.

Dominic Harman, Persimmon’s Group Communications Director, comments: “The HomeBuy Direct scheme is a real positive step, helping to restore the growing confidence and stability in the property market by giving customers who may have limited funding the ability to own a new home. Whilst the north is showing lower uptake, the ripple effect from the South is gaining momentum and is a clear sign that confidence is coming back.

“We are on a cautious road to recovery with the numbers of buyers showing interest and reserving on an upward trend. The figures are a positive sign that the market is moving in the right direction.

“We are delighted that Home Buy Direct is proving successful and it demonstrates that initiatives such as this that are coming onto the market, are helping hundreds of young people or those that have been renting, to make that first move. We can see through our increasing visitors to our developments that demand for new homes remains strong and we are confident that our customers see this as a good time to buy.”

Terry Fuller, East of England regional director for The Homes and Communities Agency, which is investing £400m to HomeBuy Direct through designated agents and developers such as Persimmon, adds: “HomeBuy Direct is about giving local people the opportunity to get a foot on the property ladder in a way they can afford now and into the future.

“Our investment will also be a major boost to help house builders continue to provide new homes in the current economic climate.”

Persimmon Homes Essex is offering the scheme at the following developments:

Cannons Meadow, Stanstead Abbotts
The Creetings, Stowmarket
Cedarwood Parc, Kesgrave
Foresthall Park, Stansted Mountfitchet
The Poppies, Little Dunmow

For more information, visit persimmonhomes.com.