The government-backed mortgage scheme accounted for 10% of reservations taken by Bellway in the period 1 August – 30 November 2012. Reservations have risen to an average of 100 per week, or 6% higher than the previous year.
Bellway’s interim management statement stated: “Market conditions remain largely unchanged, however customers’ ability to access higher loan to value mortgage finance has improved slightly compared to the same period last year, as a result of the continuation of the Government’s NewBuy mortgage indemnity scheme.
“As a consequence, reservations, net of cancellations, have risen.”
The average selling price of reservations, net of sales incentives, had increased by 4% over the period to £195,800, the report found.
While using NewBuy as a sales incentive, the group continues to restrict the use of shared equity incentives – these represented only 3% of reservations in the period, compared to 5% the previous year.
