Shared equity set to bring in buyers (From Blackpool Citizen)

Shared equity set to bring in buyers

12:10pm Wednesday 15th April 2009

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Developers are preparing for one of the most defining periods of the credit crunch so far, as they wait to see if increasing buyer interest leads to sales success following the crucial Easter weekend.

Buoyed by a surge in buyer activity since the start of the year, developers have gone into overdrive to ensure that interest translates into sales. According to website SmartNewHomes.com new homes are being marketed at some of the most affordable prices for over three years, and along with the range of incentives on offer, there has rarely been a better opportunity to buy a new home.

Research by the website has indicated a variety of measures currently proving successful at attracting buyers in the current market. Leading the way is shared equity, with over 60 per cent of developers viewing this as the most effective incentive. This is due to a combination of their own schemes and the government-backed Homebuy Direct programme, both of which have been at the centre of developer marketing campaigns in the run up to the Easter weekend.

David Bexon, website managing director, said: “Easter could be a crucial time for the new homes market and developers will certainly be marketing key initiatives that have already proven effective so far this year. Shared equity has been a major facilitator, with homebuilders’ own initiatives supplemented by government’s Homebuy Direct scheme, which is now widely available at hundreds of developments throughout the country.”

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