National housebuilder Crest Nicholson Regeneration is urging young professionals in Birmingham to step onto the property ladder at Park Central and save money on increasing rental costs.
Figures suggest that it is actually cheaper for first time buyers to purchase their own home than renting a property, as recent research by Halifax has revealed that the cost of buyers purchasing their own home is a staggering £132 cheaper per month, on average, than rental costs.
The figure follows statistics released last month, which show that rental costs have increased by five per cent in the last year alone, and are set to rise by a further 4.9 per cent over the next year.
The stylish new apartments in the Trinity building at Lower Parkside – the latest £15 million phase of Park Central – start in price from £144,000 for a two bedroom contemporary property, with a monthly repayment figure as little as £633.49*, to be paid back over a typical 25 year term.
Ruth Williams, sales manager at Park Central, said: “Lots of first time buyers are reluctant to buy their first home because of the current market, but with rental costs predicted to rise by almost five per cent over the next year, there really couldn’t be a better time for first time buyers to take that next step and invest in their home for the future.
“With plans well underway for the High Speed Rail line from Birmingham to London, and significant investment being seen in both Birmingham’s New Street Station and the Southside district, the luxury apartments really are well placed at the heart of Birmingham’s vibrant city centre. “By purchasing a home at Park Central, people can actually save money, and with Crest Nicholson’s range of equity schemes designed to give first time buyers a helping hand, buyers can own their dream home without the worry of paying a £20,000 deposit up front.”
The two bedroom apartments in the new Trinity building boast contemporary fixtures and fittings, double bedrooms, designer kitchens and bathrooms in addition to spacious balconies – with views across eight acres of landscaped public parkland. Park Central offers the ideal location for first time buyers wanting to experience city centre living whilst enjoying a peaceful place to relax.
To view the new show apartments visitors are encouraged to pre-book an appointment with the sales team by calling 0121 666 4666. For more information on the development visit the marketing suite, which is open daily from 10am to 5pm and is located at Park Central, Spring Street, Birmingham B15 2GD, or visit parkcentral.co.uk
* Figures based on apartment price at time of publishing, with a typical deposit of 20 per cent of the value of the property. The amount of deposit required may vary depending on the development/housebuilder rules and the lender for mortgage finance.