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Home Durham investors could make "substantial savings"

Durham investors could make "substantial savings"

Property investors could make "substantial savings" by buying a property off-plan at a new development in Spennymoor, County Durham, according to housebuilder George Wimpey.

Buying a new home off-plan means that an investor has a "pick of the plots" and a guaranteed price. They can also choose interior features such as the type of flooring, kitchen units and bathroom suites.

The development, known as Moorcroft, will eventually comprise four-bedroom detached homes, three-storey townhouses and three-bedroom semi-detached houses.

Julie Arrowsmith, sales executive at the development, said that an advantage of buying off-plan is that the properties are usually priced below the current market value, "which presents an obvious investment opportunity".

"It also gives buyers a rare opportunity to choose a plot with the best view or the biggest garden. Such plots are likely to sell rapidly and increase in value substantially once the houses have actually been built," she added.

Spennymoor, which was founded 160 years ago, stands above the Wear Valley and is seven miles south of Durham.
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07/12/2007