Now 'a good time' to buy new homes
20th Feb 2012
Now is a particularly good time to purchase new-build property in the UK, according to one expert who has claimed they are a wise investment.
Kevin Wilkins, group marketing director at Bovis Homes, said that the new homes market is continuing to show increasing price stability, which is reassuring for the industry and homebuyers alike.
He noted that demand has been growing and many house builders are now offering attractive purchase assistance schemes like the government-backed FirstBuy shared equity package, which is proving effective in getting people onto or up the property ladder.
The expert noted that having to pay higher deposits has become a block to some buyers' aspirations and these low-deposit schemes for new homes are helping to unlock the market.
Mr Wilkins explained that it is always difficult to predict the marketplace, but the advantages and benefits of buying new are clearly having an impact with homebuyers.
"For first-time buyers there is also the ever-emerging picture that it is now cheaper to buy than to rent and while that state of affairs continues you would expect demand to be high," he added.
Factors out there, such as the historically low interest rates and the stamp duty holiday on homes between £125,000 and £250,000, means that this is a good time to buy, particularly when it comes to new UK property.
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