18 February 2015
The number of people purchasing their first home in Weston-super-Mare is continuing to rise according to national housebuilder, St. Modwen Homes.
The award-winning housebuilder has seen sales double at its Locking Parklands development (located off Farnborough Road in Locking) during the last month and all the sales have been to first time buyers from the local area. What’s more, 80% of these purchasers have taken advantage of the government’s Help to Buy scheme.
Thanks to these strong sales, St. Modwen Homes has now sold more than 80% of the properties in the Poppyfields phase of Locking Parklands (the latest phase at the development). In total, first time buyers account for around 60% of house sales at Locking Parklands.
Johanna Casstles, Senior Sales Manager at St. Modwen Homes, said: “We are certainly seeing an increase in confidence amongst first time buyers in the Weston-super-Mare area, with many believing now is the perfect time to buy.”
St. Modwen Homes celebrated a record year of sales in 2014, with sales doubling across all of its developments.
“With the election coming up in the spring, many people have been predicting that the property market would begin to slow down at the beginning of 2015. At Locking Parklands however we have seen the reverse, with six sales being taken in the first three weeks of the year alone, which is double the average amount of sales we were securing in the latter half of 2014.
“Help to Buy continues to attract many people to Locking Parklands, particularly first time buyers and second steppers, and I would predict that we will continue to see a high proportion of our purchasers using the scheme throughout 2015.”
Help to Buy is a government equity loan scheme that helps people get onto and move up the property ladder. Under the scheme, purchasers can secure a property for just 80% of the listed purchase price – made up of a 75% mortgage and a 5% deposit – as the government will provide an equity loan for the remaining 20%. The purchaser however owns 100% of the property.
St. Modwen Homes currently has just eight properties released for sale at Locking Parklands, made up of three and four bedroom houses in a variety of styles and sizes. All of the properties are available to purchase under Help to Buy. Prices for the new homes start from just £219,995 for a three bedroom home.
One of the three bedroom house types is the link detached Maple property. Often a popular choice at Locking Parklands, the Maple benefits from an open plan kitchen and dining area, a feature bay window in the living room and balcony and en-suite leading off the master bedroom, as well as a spacious garden and private garage.
Responding to the recent sales success, the developer is planning to launch the next phase of the Locking Parklands development in late summer 2015.
The marketing suite at Locking Parklands is located off Farnborough Road in Locking and is open between 10am and 5.30pm, seven days a week. For more information visit www.stmodwenhomes.co.uk or call 0844 243 4848* to make an appointment.
Share this article: