2013 Records the Highest Number of First Time Buyers in the Market for 12 years
A recent report has revealed that the number of first-time buyers grew 22 per cent between 2012 and 2013*, demonstrating that aspiring buyers are no longer so stymied by mortgage lending and affordability.
Record low mortgage rates combined with an increase in the number of areas that are affordable for first-time buyers have facilitated this transition in the market, while the number of first-time buyers using their disposable income for mortgage repayments has fallen from 50% to 30%, indicating that the nation’s finances have been healthier since the height of recession.
For first-time buyers, however, once they’ve overcome the financial hurdles, choosing a property can be tough. Deciding whether to invest in a second-hand property, which inevitably will require additional expenditure on renovations or to plump for a new build property that offers a blank canvas for its occupants is for many ultimately a no-brainer, particularly in Kent, where 100% of buyers in the latest phase of Crest Nicholson’s Ingress Park development in Greenhithe are first-time buyers.
Annette Cole, Sales and Marketing Director, Crest Nicholson Eastern, comments: “Buyers continue to be attracted to Ingress Park thanks to a mix of practical yet stylish interiors, excellent commuter links and the stunning setting.
“The contemporary apartments have thoughtfully planned large open plan layouts that are flexible enough to accommodate the varying requirements of contemporary lifestyles. With floor to ceiling glazing and either a private balcony or terrace, each apartment is flooded with natural light and boasts far reaching views either across the water or towards Ingress Abbey for real ‘wow factor’.”
Characterised by the high-end finish synonymous with Crest Nicholson, the contemporary white Commodore kitchens come complete with a range of integrated Bosch appliances including oven, hob, extractor hood and fridge / freezer. Bathrooms and en suites are fitted with luxury Roca sanitaryware emulating the trend for hotel bathrooms, with an attention to detail that incorporates smart chrome accessories.
Each apartment benefits from good sized double bedrooms, and in apartments with more than one-bedroom, the master suite comes with an en suite and fitted wardrobe. Storage is plentiful, with cupboards in hallways that are designed to house every day clutter and save interiors from unsightly cleaning products.
Additionally, Ingress Park benefits from excellent local transport links. The North Kent Fastrack bus service shuttles residents to Bluewater in just ten minutes, enabling them to enjoy the shopping, cafes and restaurants whilst retaining the tranquillity of their riverside location.
The Fastrack service also provides transfers to Ebbsfleet International, which is also just ten minutes’ away. Providing a direct artery into the heart of central London and to the continent, trains from Ebbsfleet Station to Kings Cross St Pancras take just seventeen minutes, while the Eurostar transfers passengers to Paris in a mere two hours. For local train services, Greenhithe Station is just a five minute walk away, and also offers services to London Bridge in 45 minutes and Charing Cross in 50 minutes.
Crest Nicholson is delighted to offer an array of initiatives to help house purchasers secure their dream home at Ingress Park. Help to Buy is available across all properties, as is NewBuy, and for buyers deterred from moving due to fees, Crest Nicholson can pay stamp duty costs or provide a mortgage subsidy for residents’ first year in their property.
Prices at The Pier start from £165,000 for a one bedroom apartment or £132,000 with Help to Buy. For further information please contact Crest Nicholson on 01959 564 282 or visit www.crestnicholson.com
*Halifax First Time Buyer Review** http://www.theguardian.com/money/2014/jan/02/help-to-buy-housing-bubble-david-cameron