Myth busting on the state of the property market
Posted on July 13th, 2023It seems every day there’s a new story in the media about the housing market crashing and house prices plummeting so we thought we would expel some of these myths and provide a little clarity on what the current market conditions are really like.
Whilst the latest mortgage interest increase has of course proven a challenge for some, buyers can have confidence in the market as early reports on the impact seem to be minimal according to Right Move. Buying a new home will provide multiple savings on maintenance and energy bills which is a welcome sight to any new home owner, who would have peace of mind whilst saving some money – so you can’t afford not to make the move into a new build home.
Lovely Locations
Are you on the hunt for your forever home? Have you thought about buying a new home in the North West? Look no further! Seddon Homes is here to help and is proud to have a number of stunning developments across the North West.
The North West offers so many benefits to home buyers, and it’s no surprise that more and more people are moving to the region and with the region seeing house prices rising by an average of 7.2% during the last year, due to demand being up 20%, now is the best time to buy a new home in the North West!
We have many fantastic developments across the North West in some of the most sought-after places to live. Whether you were born and raised in the North West or you’re looking for a change of scenery, the region provides you with access to everything you need. From historic sites and rural areas for outdoor lovers to easy transport to major cities and access to commercial opportunities, you’ve got it all!
The perfect place to buy a new home
House price growth across the UK has slowed to the lowest level in more than a decade, with the four regions of Southern England recording house price decreases in the past year. Due to these dips in house prices, buyers in the South are now facing the bigger impact of higher borrowing costs for some of the most expensive homes in the country.
While the property market divide between the North and South appears to have narrowed in recent years, there remains a clear difference, and the North West remains as one of the most affordable, and has seen strong growth in house prices, particularly as you get more space for your money! The cost of living is lower in the North West, and this often means that there is more of a chance for people to afford a mortgage, particularly if they’re on the hunt for their first home. Buying a new build home can also be substantially more cost-effective than renovating an existing property, so take a look at our blog which discusses the cost savings you can expect from a new Seddon Homes property.
Seddon’s success
Seddon Homes have had an amazing first half of the year, breaking records with several new developments and homes selling well. We’re proud to share that we’re not only meeting targets but we’re surpassing them, and we’re pleased to see interest in our properties continue!
Right Move recorded demand more than 20% higher than pre-covid levels at the start of the year, and here at Seddon Homes, we have sold more than 25% more open-market properties than during the same period last year! The impressive growth that the North West property market has experienced is expected to continue, with a predicted 5-year growth of 11.7%. We’re pleased to see that forward interest for new developments has been unprecedented, and now is the perfect time to buy your dream home in the North West.
Interest rates are currently seeing a period of instability and are expected to rise again, which means it’s time to act now and secure your interest rates. Here at Seddon Homes, we do what we can to help make sure the buying and moving process is as easy as possible. We’re pleased to have a hand-picked panel of independent regulated mortgage advisors we can introduce you to. They will be happy to discuss the mortgage options available and provide you with any advice and additional information to support your questions.
Super schemes
Here at Seddon Homes, we want the process of buying your dream home to be as seamless as possible and get you moving sooner than you ever thought possible. To help with this, we’re delighted to introduce an amazing array of guidance, offers, and schemes* to help you move into your dream Seddon Homes property:
- Relatives Reward Scheme
- Help2Move
- Recommend a Friend
- SelectSolicitor
- Deposit Builder
- 100% Mortgages
Unfortunately, we can’t offer all schemes on every plot, but we’ll always do our best to find an offer that can help you.
Now is the time to buy!
Now, we know that was a lot of information, but the message is clear – the North West is the perfect place to buy your dream home!
Whether it was the market conditions or stunning local areas that have helped you make your decision, Seddon Homes has a variety of house types available of renowned quality across our stunning developments. If you think one of our stunning homes could be your forever home, take a look at all of our developments here and get in touch today – simply fill out our online enquiry form, and one of our friendly Sales Advisors will be in touch!
*Ts and Cs apply
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