Demand for new homes remains robust as good mortgage access and the government’s Help to Buy scheme continue to accelerate the housing market, major housebuilder Crest Nicholson says.
The FTSE 250 firm increased the prices of its new builds by 12 per cent in the six months to the end of April, despite a slowdown in house price growth across the country.
Investors looking to add to their property portfolios will be interested to hear that Crest said average selling prices for its homes reached £418,000 over the period, up from £372,000.
Stephen Stone, Crest chief executive, said the company was “firmly on track” to meet “ambitious” 2019 targets of £1.4 billion sales and 4,000 units.
The housebuilder said the property market is underpinned by strong demand with good mortgage access and support from the Help to Buy scheme, which allows people to buy new homes with deposits of as little as five per cent.
Overall, demand for new homes has been strong in 2017, with housebuilders reporting increased demand and new home registrations hitting a decade-long high.
Figures published by the National House Building Council (NHBC) show that more than 42,470 new homes were registered in the UK in the first three months of the year, a rise of 17 per cent on the 36,351 registered the same time last year and the highest quarter in 10 years.
For the first time in seven years all regions of the UK saw growth in new home registrations, with the north-east, London and the east among those where growth was strongest.https://newhomescrowd.com/contact
NHBC managing director, Neil Jefferson said the statistics show there is “considerable demand” for new, high-quality homes.
Investors interested in putting their money into new homes should be buoyed by the property market’s strong start to 2017. With registration levels hitting a 10-year high, it is clear that sales levels and buyer interest are very strong.
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