Joy at a five-year sales high

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Sales of new homes across Yorkshire have reached a five-year high, according to local housebuilder Barratt Homes.

The company named sites in Sheffield as sites that were selling at double the national rate, bucking the normal seasonal trend of slowing down as summer approaches.

Sam Wood, Sales Director for Barratt Yorkshire West, said: “We are seeing increasing levels of interest since the announcement of the government-backed Help to Buy scheme, announced on April 1.

“Sales reservations increasing is great news for the Yorkshire economy as new home construction underpins the local supply chain and local job creation. ”

A sample of the first 400 Barratt Help to Buy customers across the country, has revealed that the average purchase price of a three bedroom property in Yorkshire is £149,223.

This means that customers can buy a new home with just a 4% or £5,968 deposit.

Interestingly, 57 % of those to reserve in the region are buying three-bed properties, showing the scheme is supporting those moving up the property ladder, as well as first-time buyers.

The Help to Buy scheme dramatically improves the prospect of owning a home or moving home, as it reduces the deposit required to just four per cent.

The scheme will also enable qualifying customers to access low-cost mortgage finance.

The scheme provides new build homebuyers with the prospect of a 20% equity loan from the Government, with no interest payable for the first five years.

For more information on Barratt developments in your area, call 0844 8115533 or visit www.barratthomes.co.uk