Staffordshire housebuilder Walton Homes has reported a further uptick in enquiries at its new Cheadle development despite the mortgage market being thrown into turmoil, largely thanks to a discount scheme being operated in partnership with the local authority.
The business, which began construction on the Augustus Fields development, located off Birchwood Grove, last year, was inundated with enquiries from the moment it broke ground at the site, and the introduction of a Discounted Property Scheme, along with the Government’s new stance on stamp duty, has led to another surge.
Augustus Fields is a select development comprising of 39 high-specification TWO- to five-bedroom homes located close to the amenities of Cheadle town centre, with 12 properties at the site having already sold off-plan.
Director Amy Summerton said: “There is a huge demand for properties within Cheadle, and at the outset, we ensured that we factored in a number of needs in terms of the proximity to transport links and amenities, to the standard and size of the properties themselves, to ensure that we delivered on what buyers were looking for.
“Since launching our showhome six months ago, we’ve sold 12 of the properties to buyers wanting to move to the development, and the past week or so has seen us sell more properties on the back of the Government’s announcement regarding its cut on stamp duty thresholds.
“With many buyers looking to downsize, the news that stamp duty will no longer need to be paid on property purchases below £250,000 has been welcomed, but the decision that first-time buyers will only pay duty on homes above £425,000 has proved a huge draw, and our sales team are working with a number of buyers to help them secure their dream home.”
The reductions are expected to save the average homebuyer £2,500, and first-time buyers more than £8,000.
“As always, we have placed enormous attention to detail into each of our designs, combining traditional building methods and high-specification interiors with modern fixtures and fittings, to ensure that while each home is sympathetic to the surrounding area, it offers the highest level of luxury living.
“We are providing a further incentive to buyers by having partnered with Staffordshire Moorlands Council to offer the Discounted Property Scheme, which will see us sell selected private plots at a discounted rate of up to 30 per cent. Eligible buyers need to meet certain criteria, which are set out by the authority, but could be able to purchase a two-bedroom property at Augustus Fields for as little as £168,000, which is attracting a great deal of interest at present,” added Amy.
Construction at Augustus Fields is due to complete later this year.
For further details of Augustus Fields and the Discounted Property Scheme, or to arrange a viewing, call the sales office on 07793 325967. The showhome is open to view Thursday to Monday from 11am-5pm.
