It’s only January but 2018 is already looking good for homebuyers and Linden Homes South West…
Commenting on the market and reflecting on 2017, Bradley Davison, managing director for Linden Homes South West, said:
“We finished 2017 in a strong position and 2018 is looking even more promising. It’s been a year of change for the UK but there is still a shortage of housing and Linden Homes is well placed to help service the demand for new homes.
“Despite the small increase in the Bank of England interest rate, mortgage rates are still historically low and there are some great mortgage products on the market.
“We saw a positive change in November when the Government abolished Stamp Duty Tax for first time buyers on properties up to £300,000. By removing the highest fee for first time buyers it reduces their costs and enables them to join the housing ladder sooner.”
Speaking about Government schemes, Bradley commented: “Help to Buy has proved to be a very popular and beneficial initiative. In many cases it works out cheaper for purchasers to buy their own home rather than renting a similar sized property. This year, over 50 per cent of our homes were reserved with Help to Buy, proving just how important it is for homebuyers and housebuilders alike.
“There’s a misconception that Help to Buy is only available to first time buyers but existing homeowners can use the scheme too and it has been a challenge to get that message out.
“Homebuyers are more decisive than ever and they are empowered with a lot of information before they’ve even visited our developments. Not only have they obtained the prices of the homes, but the different floor plans have been reviewed, the specification has been read, the site plan has been analysed and they’ve compared our homes with others on the market via property portals like Rightmove and Zoopla. However, I would encourage people to visit the development sooner as there are many initiatives available, designed to help you move –purchasers may be able to move quicker than they think, afford a larger home or save themselves money on the sale of their existing home. Following positive feedback, we’ve put more resource into our Part Exchange initiative to help drive that side of the business and it helped some of our purchasers move in under a week, in time for Christmas.”
In terms of challenges: “Whilst we work extensively with local communities and authorities to ensure our developments meet local needs, the time it takes to obtain planning consent, remains a constraint on our ability to cater for the demand for new local homes.”
Bradley added: “We have some new faces on our board of directors, bringing a wealth of experience and expertise, and we’ve made some well-deserved internal promotions so we have an enthusiastic and committed team in place, ready for the year ahead.
“The company’s land supply is healthy and will ultimately provide over 3,450 new homes. There are a number of exciting projects in the pipeline and we will be launching a development of 60 homes in the pretty village of Blackawton, near Dartmouth; 230 new homes in Chudleigh, 193 homes in Newton Abbot and 28 homes in Swanpool, near Falmouth – so 2018 is definitely going to be another busy year!”
Linden Homes South West is currently building homes in Exeter, Okehampton, Barnstaple, Paignton, Blackawton, Totnes, Kingsteignton, Sherford and Camborne.
Media can contact Emma Mackay on 077383 12960 for more information, images and interviews with Linden Homes.
15 January 2018