Record sales for housebuilder bolstered by Help to Buy

HOUSEBUILDER Beal Homes has reported record sales for the period between January and March, and has said that the Government’s Help to Buy scheme has re-invigorated the housing market, particularly in Hull, an area hard hit by the recession.

The East Yorkshire and Lincolnshire house builder had secured 119 of 190 forecast sales for the year ending December 2015, the most successful start to any year in the company’s 48 year history.

Beal Homes is building two developments at Kingswood Parks on the northern outskirts of Hull and at the Burton Waters Marina near Lincoln, Wragby, Gainsborough and Waddington in Lincolnshire.

At the start of 2015 family-owned and operated Beal Homes had set a 2015 build target of 160 properties.

Managing director Richard Beal said: “We are now gearing up to build 190 homes with new sites coming on stream in Etton near Beverley, the West Hull village of Willerby and at three other superb locations in the East Riding to be announced shortly.

“We started the year with fantastic forward sales and interest throughout the first quarter has continued to be remarkable. We hope that things will remain as positive following the election.

“We have set out to be flexible and to offer purchasers a high level of personal choice not simply in terms of fixtures and fittings, but also in layout – not many house builders are prepared, or even able, to offer such flexibility.”

Since the Help to Buy scheme launched in 2013,  Beal Homes has seen healthy growth in sales in Hull.

In excess of 60% of the sales to first time buyers on the ‘FirstStep’ developments at The Village and The Village II have purchased using the Help to Buy scheme. At these two sites Beal Homes’ ‘FirstStep’ brand of new builds are one, two and three bedroom properties.

Mr Beal said: “The majority of our Help to Buy purchasers have been first time buyers.

“For many it has been the support and encouragement they have needed to take that first step onto the housing ladder and the monthly mortgage payments required of them are often less than rental costs for similar properties.”

Beal Homes completed 140 homes in 2014 and turnover reached £23m, a figure which is expected to be in excess of £35m in 2015.

 

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