Riding out the recession in Kingswood Parks

House sales in Kingswood Parks have continued to rise this year, despite the economic climate. So what is making people invest in the development in the middle of a recession?

It is clear that many of the housebuilders are keen to help out first time buyers by adopting government-led schemes which ensure the money worries, that usually come hand in hand with investing in a new home, are less of a burden.

It’s either these generous incentives or residents’ continually increasing sense of community pride and belonging in Kingswood Parks that makes it so appealing to buyers. In fact, figures from the housebuilders show that sales in the area are either the same or better than this time last year.

Persimmon Homes is a prime example, the company says it has already seen a significant improvement in the first half of this year with figures returning to what they had been in 2007 and house prices stabilising after the recent drop.

Karen Harrowell, sales director at Persimmon Homes Yorkshire, said: "At this time most buyers who need a mortgage will be required to put down at least a 20% deposit, which is proving difficult for some.

"The government backed HomeBuy direct scheme is proving to be successful for first times buyers or buyers moving back into the market because it allows them to purchase with the aid of up to a 30% deposit, which is made up equally from government funds and funds from the developer which will then be paid back at a later date. The other 70% can then be obtained via a mortgage subject to status.

We also have other shared equity schemes which may help and we can also help with money towards the deposit."

Similarly local, family-owned company Beal Homes is satisfied that the recession hasn’t affected its sales at Kingswood Parks, reporting that they
remain buoyant with visitor figures up by 70% compared with last year.