New homes sales remain buoyant
DESPITE the economic downturn, sales of new homes in Torbay have remained remarkably buoyant. More than ever before, buyers are seeking excellent value, not only in terms of getting the best possible property for their money, but also ensuring that future running costs of their home will be as low as possible.
At Cavanna Homes' Evolve development in Torquay, more than eight out of ten buyers are local people. This confirms that new homes are needed and the right property, at the right price, will sell — even in a slow market.
Since 2007, sales of new homes, nationally, have fallen by half but Cavanna Homes, which has been building property in the South West since 1923, has reported another successful year.
We believe that our small size, coupled with our local knowledge, is a key factor in this. The location, layout and design of a development is as important as the individual design and quality.
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One of our recently completed sites, #8 at Derriford near Plymouth, was recently named Best Small Housing Development in the South West in the LABC Regional Awards, reflecting our success in delivering all these elements.
Where appropriate, we are installing eco-friendly features, such as solar PV panels, on our new homes to help keep the energy costs as low as possible.
At our two Plymouth Airport developments — Cobham Field and 504K — all of the properties have solar hot-water systems. Residents also have access to a bespoke travel website which provides public transport information and solutions to enable them to find alternatives to using a car.
Coming up with the right scheme to buy a new home is also important and offering incentives to help people according to their needs, in terms of products like part-exchange or financial packages such as 95 pert cent mortgages under the government-backed New Buy Scheme.
Although mortgage availability is supposed to be on the increase, lenders are still being scrupulous about verifying applications.
The buy-to-let market is still strong, though, particularly for two-bedroom homes, as people who have some equity are searching for better returns on their investments than basic interest rates.
Sales are brisk on our other developments, notably Pebblestone at Seaton in East Devon, where nine out of the 12 homes have been reserved within a few months of opening. The Salterns in North Devon, Parish Green at Lee Mill and Tower View in Bodmin are also attracting interest from local people, as well as those looking to relocate.
As a family-owned business, building homes within the area it was established nearly 90 years ago, Cavanna Homes is committed to continue to carefully deliver the right homes in the right place for the right price.
For more information, visit the company's website www.cavannahomes.co.uk
Andy James is head of sales at Cavanna Homes