Homes market heats up in South Molton
SOUTH MOLTON’S property market is experiencing a purple patch as the popular spring selling season, combined with increased consumer confidence, is boosting house sales.
Prices have leapt 19% in the town in the last 12 months and properties are spending less time on the market – 192 days in June 2014 compared to just 137 days in June 2015.
Housebuilder Elan has seen a run of sales at its development, The Gateway, off Station Road, since it opened a new show home in May. The developer sold five properties in just three weeks and a total of 11 houses have been reserved with six families already moved in.
A new phase has just been released for sale at the venture to help meet strong demand and work is continuing apace on site to ensure more residents can move in soon.
Andrea Nippe, sales director for Elan Homes in the South, said: “We’re enjoying a very buoyant property market right now, particularly in North Devon, where spring is always a busy time for housebuilders and estate agents.
“Homes at The Gateway are selling fast, and more people are looking to move up the ladder as they are confident that they can find a buyer for their existing properties quickly. Improving house prices here and across the UK are encouraging home mover confidence, plus the availability of Help to Buy is making new homes a very attractive prospect as they can be bought with just a 5% deposit.”
Elan has a wide range of designs available at The Gateway from two to four-bedroom to suit couples, families and downsizers.
In total, 150 new homes are being built at the development, which offers a fantastic lifestyle to residents, with access to footpaths and woodland closeby as well as an excellent range of schools, shops, cafés and leisure facilities on its doorstep.
Prices at Elan @ The Gateway start from £239,995 for a four-bedroom Stamford house type on the new phase.
Help to Buy is bringing homeownership or a larger property within reach for more people. It enables buyers to take out an equity loan for up to 20% of the purchase price, with the remainder covered by a 5% deposit and a 75% mortgage from their lender of choice.
To find out more about the homes available at Elan @ The Gateway, the marketing suite and show homes are open Thursday to Monday 10am to5pm. Alternatively call 01769 574 581