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North West bucking the trend on property market

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Amid heightened political and economic uncertainty, it’s little surprise that recent housing market reports reveal a subdued picture.

The North West of England, however, appears to be bucking the national trend according to a national housebuilder.

Sales director James Clark commented: “Brexit uncertainty and the forthcoming UK election has inevitably caused a slowdown in the UK housing market.

“Whilst the latest UK Residential Market Survey report has shown a fall in the sale of new homes, we’re seeing quite the opposite.

“Here in the North West, we’re seeing double digit sales every week at our nine new housing developments.”

James added: “Whilst buyers remain cautious, the housing market in the North West remains buoyant and we are seeing strong demand for new homes from a variety of buyers, including first-time buyers, as well as couples, families and those looking to downsize.”

He explained: “Many of our buyers are taking advantage of the Government’s Help to Buy scheme to assist with their purchase.”

The scheme is currently available to both first-time buyers and existing homeowners, although it closes for existing homeowners from April 2021.

James continued: “Whilst many of our buyers are using Help to Buy to help them take that first step onto the property ladder, we are also seeing families use the scheme to move into larger properties that better meet the needs of their growing families, as well as buyers who are relocating to a new area.

“Interest rates are at an all-time low and there are some very competitive mortgage rates out there and it certainly seems like buyers here in the North West are taking advantage.”

He believes Cheshire is the perfect place to buy – with Greater Manchester having the fastest growing economy in the country, it’s an ideal base for commuters.

 

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