With the slowdown in the UK property market, London and the South East is experiencing a shift from being a sellers’ market to a buyers’ market. As such, people are increasingly taking advantage of incentives such as part exchange, which removes estate agency fees, property chains and enables the seller to secure market value for their home.
Historically, the perception of part exchange is that sellers would not achieve market value for their property, but this is no longer the case and Rectory Homes has seen a marked increase in buyers using the part exchange scheme at itsdevelopments at The Chilterns in Haddenham and Roebuck Park in Aston Clinton.
Mandy Soames, Sales Director at Rectory Homes, comments: “We’ve seen a marked increase in people using the part exchange scheme at our development The Chilterns in Haddenham. When they hear of the benefits – no estate agency fees, no property chain, a quick sale and market value achieved for their existing property – it’s a no brainer for them!”
The scheme is for those who have a smaller property and are looking to make their second step into a larger one and do not want the hassle of having to keep the house tidy and have lots of potential buyers traipsing through. This enables them to secure the Rectory home of their choice knowing that they are not going to miss out to another buyer if they have not sold their own.
The part exchange scheme helps to take some of the stress out of moving home. Particularly as in the current market, properties are taking up to 198 daysto sell in some cases.
Mandy adds: “Many of our buyers are those who work in the capital but want to have a more rural lifestyle, and also get more home for their money. In London, they will pay an average of £697per square foot for a semi-detached property, but in Buckinghamshire and Oxfordshire this figure is much lower at £377and £376,so it makes sense for them to move out of the city.
“However, with the market in its current condition, they often think they can’t move forward with their purchase until they have sold their existing property and part exchange is the perfect solution to this.”
Part exchange works whereby Rectory Homeswill obtain two valuations from local estate agents and will offer what is considered to be the market value, it will then need to be inspected by Rectory Homes and will also be subject to a home buyer’s survey – the cost of which will be covered by Rectory Homes, so the purchaser has nothing to lose. Rectory Homes will take on the commitment of selling the property on, leaving the buyers free to complete on the purchase of their new home.
Rectory Homes has been based in Aylesbury Vale for 17 years and its developments are positioned in locations commutable to London across Buckinghamshire and Oxfordshire. This is a big draw for buyers as it offers them a rural lifestyle, with easy access to work in the City Via Haddenham and Thame parkway which goes directly into London’s Marylebone station.
Rectory Homes is currently marketing a number of schemes which are ideal for buyers looking to move into the countryside, whilst maintaining a career in London, all finished to the developer’s exceptional standard, with most of their current developments offering part exchange.
Buyers will know that the foundation of the Rectory Homes brand is a completely bespoke approach to the design and build process with unrivalled attention to detail.
The Chilterns, Haddenham
Located in the vibrant village of Haddenham, The Chilterns comprises 26 three, four and five bedroom houses, which have proven popular with first time buyers looking to get a foot on the ladder, as well as families seeking a larger family home and downsizers. The development has proved so popular is already 75% sold.
Prices at The Chilterns range from £465,000 for a three-bedroom semi-detached home. Part exchange and Help to Buy options are also available. Four bedroom homes start at £675,000 and occupations will begin in September 2018.
Roebuck Park Aston Clinton
Located in this popular historical village, Roebuck Park comprises of 35 three, four and five bedroom family homes. The show home is due to open in September but some buyers have already made their reservation on the property of their choice so as not to miss out. Potential buyers can view the show home at nearby Haddenham.
Prices start at £425,000 for a three bedroom semi detached property and the four bedroom semi detached homes start at £545,000, with the five bed detached homes starting at £675,000. The first completions will be from September 2018.
For further information please contact RectoryHomes on: 01844 299 400 or visitwww.rectory.co.uk
10 September 2018