Representatives of homebuilders across the country say that despite challenging economic conditions, trading has remained steady this year and that conditions are showing signs of easing.
Previously published figures from HM Revenue and Customs have shown that the number of home sales in the UK has risen by 9 percent in the first nine months of the year, compared with the same period in 2011, while there is hope that lending could pick up further as the Funding for Lending Scheme (FLS), which was launched in August, gathers pace.
House builders also cite other helpful Government initiatives, such as the NewBuy and FirstBuy schemes, saying that industry numbers would be considerably lower without the these interventions.
NewBuy allows buyers to secure their new build home with a 5 percent deposit and since its launch in March, the number of builders and lenders registering for the scheme has steadily increased.
On the other hand, FirstBuy is an affordable housing Equity Loan product from the Homes and Communities Agency (HCA), working in partnership with house builders all over England.
The FirstBuy scheme has been designed for households who have found buying a property on the open market difficult due to the large deposits required for mortgages. First time buyers could now benefit from getting additional government help to buy a brand new house through the scheme.
According to the CBI Construction Council, the industry is vital to the economic growth of the UK. Any increase in the construction and sales of new builds must therefore be helpful to the economy.
For more information, please contact Glazers, Chartered Accountants London or visit www.glazers.co.uk
[ add comment ] ( 3 views ) | permalink |
( 3 / 577 )
Random Entry
