Property interest up - December 19th
A drop in property asking prices and cuts in interest rates generated an increase in house sale enquiries in November, according to the latest housing market survey from the Royal Institution of Chartered Surveyors.The news also comes as a number of leading mortgage lenders announce a cut in rates on several of their mortgage products on the back of the one per cent reduction in the base rate - the results of which is backed by data published by the Council of Mortgage Lenders that indicates the total amount of mortgages leant in the UK over October showed a slight increase over the previous month.
With buyer interest on the up, one housebuilder is attempting to further increase buyer confidence by introducing a mortgage subsidy scheme across a choice of new homes and developments, including at its Eaton Park development in Rugeley.
Angela Thomas, Sales and Marketing Manager comments: "There is no denying that the current weakness in the economy is having a effect on the property market, however, the recent interest rate cuts have created an improved sentiment, which although only temporary, has led to a significant uplift in enquiries.
"The starvation of mortgage finance and falling house prices means that for those able to buy in the current climate, there are bargains out there and our mortgage subsidy offer will also go some way to lightening the load."
Peveril Homes has adjusted its house prices at Eaton Park to suit current market conditions. Plot 63, a four-bedroom detached Hazelmere has had its price slashed from £235,000 to £209,950 and part exchange is also available on this property. Alternatively plot 12b, a three-bedroom Ashby townhouse is now priced at just £139,950 plus Peveril Homes is offering £800 per month mortgage subsidy for two years.
Continues Angela Thomas: "Many lenders are changing the terms on their mortgages in order that customers can get the full benefit of the latest cut announced by the Bank of England.
"We too understand the concerns about the economic outlook, falling house prices and a reduced appetite for risk and that is why we are doing all we can to offer reassurances and real price savings."
Set on the edge of Cannock Chase in Staffordshire, Eaton Park offers a variety of two, three and four-bedroom homes, providing the luxury, style and choice of living space that will appeal to a variety of buyers.
Rugeley still holds its reputation as a busy market town and it maintains its attraction to both High Street chains and local traders alike. Rugeley is situated less than 10 miles from the busy business and retail hubs of Stafford, Lichfield and Cannock and within convenient reach of Birmingham and Coventry.
For further information about Eaton Park contact Peveril Homes on 01889 576054. The sales office is open from 11am to 5pm, Friday to Monday.
Contact:
(01773) 880550
