New homes sales are on the up

Gill Barker, from Kier, with the keys to a new house at Spalding's Monks House Lane development.
Gill Barker, from Kier, with the keys to a new house at Spalding's Monks House Lane development.
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Sales of new homes in Spalding are taking off according to house builders.

Buyers are being tempted into the market by Government schemes that offer mortgages for as little as 75 per cent of the house value.

Kier regional sales and marketing manager Martin Joyce says his company plans to build 400 homes on its Monks House Lane development.

So far it has released 83 and about 25 of those have sold or been reserved since April.

He said: “We are doing really well at Spalding.”

Mr Joyce said sales are being help by Government schemes, the most popular of which is “First Buy” – the buyer provides a five per cent deposit while the developer and the Government each lend ten per cent.

His firm is mainly selling two and three-bedroom terraces, with prices starting at £118,000.

He believes Kier’s acquisition of Allison Homes and the company’s return to the Spalding marketplace after an absence has also boosted sales because Allison had a strong following.

Sales in Bourne are equally buoyant.

Ian Canham, boss of Weston Hills-based Broadgate Homes, agreed sales are better than 2011.

He said: “You would not describe it as a boom but there is interest.

“There are people buying houses and people are using these Government schemes to get help with their mortgages.

“We are a slightly different house builder – we don’t sell to investment purchasers.

“With the high increase in rent valuations, there’s an awful lot of people looking at buy to let, but we sell to people who are going to live in the houses.”

Broadgate has a couple of homes left on Broadway, Holland Park, and is still selling on The Triangle on Wygate Park. Prices start from £98,995.

Taylor Wimpey say sales are going well on Pilgrim’s Chase.