Almost 50% more new home buyers in 2011, says Connells
14 February 2012
Award-winning new homes agent Connells is delighted to report a significant increase in the sale of new homes sales in 2011.
Its results for last year show a 41 per cent increase in buyers purchasing new homes compared to the previous year. This figure rises to almost 50 per cent in the final quarter compared to the last quarter of 2010, demonstrating the huge demand for new-build property and increasing activity from buyers.
The figures from Connells eastern region, which includes Bedfordshire, Hertfordshire, North London, South Cambridgeshire, Essex and Suffolk, indicate growing momentum in the new homes market fuelled by greater choice of mortgage products, developer incentives and Government-led schemes including FirstBuy.
“In September 2011, Connells’ dedicated new homes team in the eastern region reported its highest number of new homes sales in four years,” says Trevor Hill, Regional Director for Connells Land & New Homes. “Today, we are pleased to announce continued high activity in the new homes market, indeed, we’ve seen a phenomenal hike in sales in the second half of 2011 compared to the previous year.”
In 2011, agents, developers, lenders and Government all contributed to the increase in activity across the new homes market. The much anticipated Mortgage Indemnity Guarantee, being introduced on 14 March 2012, should give another boost to the number of buyers choosing to purchase a new home in the area.
“There are some excellent incentives for new homes buyers, whether they are purchasing for the first time or moving home,” Trevor continues. “We work with a number of developer partners in the area and have some fantastic new homes available this year. I expect we will continue to see buyers opting for a new home in 2012, mainly due to the quality of the properties available and the fantastic incentives they often have.”
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Notes to editors
About the Connells Group:
Founded in 1936 and comprising of 470 branches nationwide, the industry-leading Connells Group is the third largest and most profitable UK estate agency network. In addition to operating under the Connells brand, the Group trades under other well-known local names including Allen & Harris, Bagshaws Residential, Barnard Marcus, Brown & Merry, Fox & Sons, Jones & Chapman, Manners & Harrison, Roger Platt, Shipways, Swetenhams, William H Brown, Sharman Quinney and Pattison Lane. As well as residential property sales and lettings, the Group has a comprehensive range of B2C and B2B services including new homes, mortgage services, conveyancing, EPCs, surveying, corporate lettings, asset management, land & planning, LPA receivers, auctions and relocations. The Connells Group is consistently named Best Large Estate Agency at the Estate Agency of the Year awards, winning the top prize for four of the past six years. It is also highly acclaimed in the New Homes category, winning Gold five times in the last six years, and in the Financial Services category for which it currently holds the Gold prize. For more information, please visit www.connells.co.uk