14 Oct

Opportunity awaits for homebuyers, says expert

Opportunity awaits for homebuyers, says expert

The head of a new homes firm has suggested that the near future may provide some very good opportunities for those purchasing such properties.

Managing director of Smartnewhomes.com Dave Bexon said that the new banking liquidity measures taken by the government are likely to start opening up the mortgage market soon.

However, he stated, developers are likely to continue offering buyer incentives in the coming months, as the increase in the building of new homes will be gradual while the industry builds up its capacity again.

The consequence will be that new homes will attract a price premium as the market picks up, he concluded, saying: "Buyers who purchase new homes over the next 12 months are set to benefit not only from excellent value for money, but also strong future growth."

Director of property portal propertyfinder.com Nicholas Leeming said mortgage availability should improve since interbank lending rates have begun to "creep back down" since the government's liquidity plan was announced.

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