Mortgage News
Help to Buy fuels surprise Bellway reservation rise
Prospective home buyers at new build sites rose by 27% this year thanks to Help to Buy and other government schemes, Bellway has reported.
The property developer has seen an average 128 visitors to its sites per week in 2013, compared to 101 in 2012. Over 800 visitors went on to reserve homes through Help to Buy.
The group’s latest trading update stated: “The new homes market has benefited from improving consumer confidence throughout the year, having been supported by government schemes in the form of NewBuy and Help to Buy.
“Visitor numbers have risen and reservations have exceeded expectations.”
However, the report also appeared to confirm fears that Help to Buy would fuel a house price rise, with properties selling on average for 3% more than the previous year.
Almost a fifth of reservations were made for homes in London, although all regions saw an improvement in sales. In total, Bellway has sold 5,652 homes – 8.2% more than in 2012.
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