Downturn defying development becomes hot property

A Wolverhampton housing development has sold so well that there is now a waiting list for potential buyers.

The recession brought a halt to building work at the Keepmoat Homes, Unity site back in 2009. Despite this, the development continued to sell through what was a very difficult period for the industry.

Now a mixture of first time buyer incentives and competitive pricing has seen the site become hot property.

Homesale Executive, Yvonne Turner, said: "The site continued to sell through the recession and now that people are feeling a little more confident the number of enquires has rocketed. Its popularity is a little unexpected but on a site of this quality it's not unusual."

In a clear indication that buyer confidence is building, the 18 properties in this latest phase of the development have all been sold off plan.

Another 45 houses are due for release soon, with 30 potential buyers already registering their interest for the properties that are expected to be completed in September.

The development will bring 205 stylish, two, three and four bedroomed homes to Showell Park area of Wolverhampton.

The site has a number of attractive first time buyer incentives. These include the Government backed HomeBuy Direct scheme and Keepmoat Homes' own shared equity scheme.

Both schemes are similar in that the buyer owns 100% of the home whilst only having to finance a percentage of the cost, usually between 70% and 85% of the price, dependent on the scheme.

If eligible for HomeBuy Direct a buyer can snap up a two bedroom Harmony house type from £88,995*.

Set just off Cannock Road, Unity is ideally placed for buyers wanting easy access to the city centre and the motorway network. For more information about HomeBuy Direct, Keepmoat Homes' shared equity scheme and Unity at Wolverhampton please Tel: 01902 738623.

*Prices correct at time of publication

Photo caption: A street scene from the Unity development