New homes sales hit four year high, says Connells
24 October 2011
Award-winning new homes agent Connells has recorded its highest number of new home sales in September 2011 for over four years.
According to its figures, the number of buyers purchasing a new home in the eastern region last month reached a level not seen since July 2007 indicating renewed interest in the housing market generally and particularly in new build properties.
The news comes just two months after the Connells Group revealed a nationwide upturn in new homes sales since the start of this year. Connells’ half year figures showed that despite a difficult housing market there had been an 18 per cent hike in new homes sales in quarter one of 2011 and a 44 per cent increase in quarter two compared to the same period in 2010.
“Connells sells a wide range of new homes, from one-bedroom apartments to luxury detached houses, and we’ve seen growing interest for these properties as 2011 has progressed,” says Trevor Hill, Regional Director for Connells Land & New Homes. “In the current climate, a new home represents fantastic value for money with incentives like deposit paid schemes, shared equity and part exchange often making the difference to whether buyers are able to move or not.”
Although obtaining mortgage finance has been a challenge for many buyers in recent years, the growing number of mortgages available combined with government schemes like FirstBuy Direct have eased the situation.
“This year, Connells has launched a 100% Family Guarantee mortgage product and a 95% mortgage specifically for new homes,” Trevor continues. “Greater availability of mortgages combined with the type of incentives that house builders are offering make buying a new home an attractive and sound option when it comes to buying a home, which probably accounts for the upturn we have seen in sales and the greater interest we are seeing in the new homes market.”
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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