When it comes to new build homes for first-time buyers, the East Midlands region remains the most affordable in Great Britain, according to the latest New Build Index from estate agency group LSL and chartered surveyors e.surv.
The Index, based on figures to the end of August 2015, shows the average price of apartments in the region at £108,645 (up 5.8% year-on-year), terraced homes £159,596 (up3.8%), semi-detached £169,300 (up 2.8%) and £281,307 (up 7.5%).
The affordability of an average new two-bedroom starter home, compared to regional average wages, was at a ratio of 3.82:1 for the East Midlands, just slightly less than the next lowest (Yorkshire and the Humber at 3.92:1) and considerably less than the national average (5.29:1).
Figures from the Office of National Statistics on the whole residential property market show a rise of 3.1% overall in the same period and an average price across all property types of £196,000.
There are currently plenty of excellent new build homes available in the East Midlands and this is our pick of our favourites:
Castleward in Derby (Compendium Living)
Prospective buyers could save £3,000 on the cost of a new four-bedroom home at this popular development and those who complete on the ‘Gladwin’ home on or before 31 December 2015 will also receive £500 towards their legal fees, as well as benefitting from paid stamp duty.
Ben Twigg, sales executive at Castleward for the award-winning developer, comments: “We're helping buyers into their new home in time for the festive season with this fantastic discount, which will help those who want to take their first step onto the property ladder this year.
“Castleward has become a popular place to call home, largely due to its convenient location between the city centre and the railway station, and the spacious modern homes we are building here.”
The government-backed Help to Buy scheme can also be used at this development.
Prices: From £233,000
Find out more on WhatHouse?; 01332 426156
Buttercross Park offers a range of traditionally styled, eco-friendly two-, three-, four- and five-bedroom properties which will suit homebuyers looking for semi-rural surroundings. The development is situated on the outskirts of Oakham and is part of the Oakham Heights development.
Rutland was revealed as the best rural place to live in the UK this spring, on a quality-of-life survey by the Halifax, and Oakham itself is a pretty, traditional market town with a regular market twice a week and monthly farmers' market. Rutland Water is close by, with its renowned water sports facilities, natural habitats and wildfowl reserves, outdoor adventure centre and cycling and walking routes.
Road and rail links are excellent with towns such as Stamford, Leicester, Birmingham, Peterborough, Cambridge, Melton Mowbray and Corby being within easy driving distance and Oakham’s station offering services on the Birmingham to Peterborough line.
Prices: From £191,996
Find out more on WhatHouse? ; 01572 722262
Riverside Crescent in Nottingham (FHP Waterside Living)
Six penthouse apartments have been released for sale at this popular scheme in Colwick, representing the most prestigious properties at this multi-award-winning development.
New homes along the River Trent have a lot of investment potential, says associate director at FHP Living, Steve Parker: “You only have to go down to the sites on a sunny day to see the attraction of waterside living, with many people prepared to pay a premium to do so.”
The apartments within the River Crescent development benefit from the use of a fully equipped gym, leisure and spa facilities and indoor heated swimming pool. There is also a designated business suite for meetings, which can be booked through the marketing suite. Cyclists have easy access to a landscaped cycle path as well as cycle storage.
Find out more at www.fhpliving.co.uk ; 0115 841 1155
Lakeshore at Burton Waters, Lincoln (Arbor Living)
These high-specification and fully furnished park homes for over-55s have been designed and made in the UK by Pathfinder Homes, with an array of services, including phone lines, cable, high-speed broadband, Nest intelligent heating controls and a Sky box.
The secure, gated development offers residents a wide variety of facilities close by, such as a large health and fitness resort, a collection of small shops and a lively marina.
Lakeshore currently offers four different property types, with the homes set in 20 acres of beautiful parkland and with great views over a lake. The site also benefits from all the amenities that renowned Burton Waters inland marina has to offer and has classic Lincolnshire fenland countryside on the doorstep.
Find out more at arborliving.co.uk ; 01522 561450 (Pygott & Crone)
Heathside Gardens in Mansfield, Nottinghamshire (Rippon Homes)
There have been recent price reductions on a number of homes at this scheme, the three-bedroom ‘Hadley’ style home at plot 23, the ‘Sherwood’ at plot 15 and the ‘Alverley’ at plot 21. All three properties have been designed to a high specification and benefit from fully-fitted modern kitchens, a turfed rear garden and allocated parking spaces.
Ian Dyke, managing director at Rippon Homes said: “These three properties offer excellent value for money for families looking for a traditional yet modern home or first-time buyers looking for a first home, without overstretching their budgets.
A recent customer satisfaction survey revealed 96% of respondents said they had experienced an excellent level of service and would recommend Rippon as a reputable housebuilder to family and friends.
The sales centre, off Jubilee Way, is open from 10.30am to 5.30am, Thursday to Monday.
Prices: From £104,999
Find out more at www.ripponhomes.co.uk ; 0800 169 7644
Belgrave Riverside in Leicester (Westleigh Homes)
With all the properties launched to date already sold out, the release of the next phase is now imminent, with the first homes anticipated to be ready to move in during Spring 2016. Though detail plans of the house types have yet to be unveiled, Westleigh promises that “sizes and internal layouts of these contemporary homes maximise the use of space and offer a good degree of variety and flexibility”.
The choice of new homes will include two- and three-storey styles, forming terraced townhouse street scenes. Parking courts have been created to the rear of homes to minimise their effect on the street scene and also to maximise privacy and security for vehicle owners.
Find out more at www.westleigh.co.uk ; 0344 225 3044