New home sales are 'encouraging'

People seeking cheap mortgages should be encouraged by the increased number of new home sales, SmartNewHomes has claimed.

According to new research by Connells', there was an 18 per cent increase in new homes sales in the first quarter of this year and a 44 per cent rise in the second quarter of 2011, compared to the same period last year.

The leading estate agency group said that it is positive it will have a fantastic second half of 2011 due to the large number of new developments.

Steve Lees, director at SmartNewHomes, said that developers are now pricing their new-builds in a competitive manner to offer excellent value for money compared to the rest of the market.

"We are optimistic that the wide range of developer deals and incentives, as well as the government's newly launched FirstBuy scheme, will help sustain industry activity and encourage new home sales," he told those in the market for cheap mortgages.

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2011-08-17 13:07:13 © Moneyextra.com