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 Time for a bargain in new homes market
Prospective new home buyers have responded to current market conditions with the realisation that now is an excellent time to secure a bargain, reports SmartNewHomes.com.
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Weekend Property Sections - 20th July 2008
Weekend round up of headlines.
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Comment on Caroline Flint – ‘Action today, innovation for tomorrow’
David Bexon, Managing Director of SmartNewHomes.com, comments on today’s announcements from Housing Minister, Caroline Flint – ‘Action today, innovation for tomorrow’:
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London surge could herald a return of confidence in the new homes market
A return to form for the UK’s historically best performing regions has led to a third consecutive rise in monthly new home prices, reports SmartNewHomes.com, which recorded positive price growth in London and the South East in May.
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Housebuilders welcome recommendations for new build regulation
David Bexon, Managing Director of SmartNewHomes.com, responds to the Carsberg Review of Residential Property, which calls for developers and builders to be subject to a regulatory scheme, which will protect consumers buying new build homes:
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New homes come out on top as first time buyers remain confident
First time buyers are preparing to enter the new homes market with confidence, reports SmartNewHomes.com, which has revealed high perceptions of affordability, and large numbers willing to go it alone in pursuit of their first home purchase, in spite of growing negativity in the financial markets.
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David Bexon, Managing Director of SmartNewHomes.com, comments on this month’s decision from the Bank of England’s Monetary Policy Committee (MPC) to hold interest rates at 5.0%:
“Today the Bank of England failed to indicate its awareness of the daily struggle in the UK housing market, and send out a positive message to all involved, from first-time buyers to established home builders.
“Decisive steps need to be taken if we are to bring movement back to the market, and holding interest rates at 5.0% will inspire no confidence in the Bank’s ability to aid this process. The MPC needs to make a significant move and drop rates by 0.5%, and more pressure needs to be applied to lenders to ensure these cuts are passed onto consumers”
A need for Government action
Bexon adds:
“At present it is being left to developers, through means of incentives, schemes and pricing, to bring first-time buyers back to the market. While there are some excellent deals to be had, those without significant cash deposits available simply can’t gain a footing on the ladder. Government must take action, and scrapping stamp duty for first-time buyers would be a positive step.”
See Also: Press Releases (371)
Date Published: 10 July 2008
