Cavanna predicts new homes growth is set to continue [Herald Express (UK)]
(Herald Express (UK) Via Acquire Media NewsEdge) Cavanna Homes has seen its strongest performance to date in terms of the number of reservations taken per development in the first half of this year. Andy James, head of sales and marketing for the Torquay-based firm, believes the record has been helped by renewed confidence among home-buyers. He says Cavanna Homes, (which has twice won the coveted five star customer satisfaction award by the House Builders Federation), is currently building more homes than ever, and forecasts a further 35 per cent increase in 2015.
Buyers have returned to the market for a number of reasons, among them being the fact that the country is officially now out of recession, mortgage rates are low, the 'Help to Buy' scheme means buyers only require a five per cent deposit, and of course houses are attracting more and more savvy investors.
While house-price increases in London and the South East have been running at around 17 to 20 per cent year on year, here in the South West it has been closer to five per cent, and on Cavanna new homes around 6.5 per cent.
Now is a good time to buy, as I personally feel price increases have settled down to a more realistic, sustainable level, offering more clarity and consistency in the market. The new Mortgage Market Review rules for lenders are also helping to make sure loans are affordable for buyers, which is good news for everyone as it ensures a more stable market, as will the latest announcement by Bank of England governor Mark Carney on mortgage affordability tests.
And amid discussions of higher interest rates in the near future, Andy notes that many buyers are now acting quickly to lock in 'fixed' interest rate mortgage deals, which will again offer more certainty in the longer term.
We are helping to meet a real need for quality new homes in the area, employing local people on local projects, which is good news for the whole of Torbay.
At the same time, as part of the celebrations of our 90th anniversary as a family company, we have supported a number of good causes in the area, including Torquay Museum, the Rotary Pedal Car Grand Prix at Torre Abbey, and the Brixham Food Bank.
Cavanna homes' developments Aspects in Dawlish: 118 homes ranging from two-bedroomed apartments to four-bedroomed houses offering the perfect mix of coast, countryside and urban living.
Fusion in Paignton: A mixed development of 220 new two-, three- and four-bedroomed homes, close to local attractions, facilities and awardwinning beaches.
Kings Field in Kingskerswell: A range of 62 new homes, with two, three or four bedrooms in the thriving community of Kingskerswell, easily commutable for Newton Abbot, Torquay, Exeter and Plymouth.
For more information on Cavanna's developments, please visit www.cavannahomes.co.uk
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