Why So Many Westcountry Buyers Are Choosing New Builds
Grayham Tucker, group managing director at Cavanna Homes, shares his views on why Westcountry buyers are choosing new build homes over older properties…
I joined Cavanna Homes in January 2023 - a significant year for the company which celebrates its 100th anniversary later this summer. From a small business start-up, founded by brothers Philip (PD) and Ray Cavanna in Torquay in 1923, it has become one of the South West region’s leading independent homebuilders, and it still has its headquarters in the same town today.
Many lessons have been learnt over the decades, not least from the various peaks and troughs in the housing market which have taught us to remain focused on delivering high-quality homes in desirable locations, and outstanding customer service for all our new homeowners.
Year-on-year, we are reducing our carbon footprint and improving the energy efficiency of the new homes we build. From the building materials we use to the fixtures and fittings we choose, we strive to do our best for the environment and our customers. The number of people visiting our marketing suites and show homes across the Westcountry are a clear indication of the continued appetite for choosing a new build.
The prospect of lower energy bills - as a result of fuel-efficient heating, high levels of insulation, double glazing and modern appliances - is the number one reason why so many are choosing a new home over older properties.
After the withdrawal of the government’s Help to Buy scheme for first-time buyers last year, it’s been reassuring to see the continued availability of mortgages with favourable interest rates. Although not as low as last year, mortgage rates remain steady with longer-term fixed mortgages still being offered, providing buyers with the confidence to plan for the future.
In addition to this, a recent ONS report showing that the UK’s private rental prices rose by an average of 4.4% in the 12 months to January 2023, may be another reason why so many are choosing to buy, rather than rent.
On the edge of Exeter at our Cavanna @ Elm Park development, we’re offering additional support for first-time buyers through deposit contributions and financial assistance on legal fees. Prices for a two-bedroom Rippon style home with driveway parking start at £300,000.
Three- and four-bedroom homes with space for a dedicated home office are also proving popular amongst families, who are seeking homes close to the countryside or coast.
We have varying house types at Bellevue in Bude, North Cornwall, to suit all requirements, with prices starting at £325,000 for a three-bedroom Bracken home. We’re also pleased to offer £5,000 towards personalising a new home.
In the mid-Devon village of Hemyock, reservations for the three- and four-bedroom homes at Oak Mount, which is located in an Area of Outstanding Natural Beauty, are being taken quickly following the opening of the show home last autumn. This is a positive sign that homebuyers in the Westcountry have confidence in the housing market and recognise our high-quality build standards and design.
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