The UK’s new build housing market is showing increased signs of optimism, according to recent statistics.
Data from two of the country’s major house builders shows a rise in the number of potential buyers going to visit building sites in the first quarter of this year.
The new build market started the year slowly, taking its time to recover from the harsh winter weather and the festive season, but home builders are now witnessing an upswing. Spring is traditionally a season where more people look to buy property and this year is no exception.
Persimmon, the UK’s second largest house builder says that sales are outperforming this time last year. Sales reservations are up 12% this year compared to the same period in 2010. The builder says its order book currently stands at £1.14 billion. Taylor Wimpey is also reporting an increased order book; up from 4,684 last year to 5,861 this.
Both builders say they are seeing encouraging trends for appointments and sales. Taylor Wimpey also reports that their new contractor mortgage product, Take 5, is causing a lot of interest. Take 5 is a low deposit 2 year fixed rate mortgage. With a loan to value of 95% it’s an ideal product for first time buyers who are unable to raise the large deposits required by other mortgage lenders.
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