Help To Buy Surge At Surrey Development

The release of virtual tours and reopening of sales office and show homes has led to a swell in house-hunter interest, and for Millwood Designer Homes, a surge of buyers wanting to purchase through Help to Buy at its Cherry Tree Lane development in Ewhurst, Surrey.

There, five out of six sales over the last few weeks are through the government-backed shared equity scheme, which enables people to reserve a property with as little as a 5% deposit.

Roger Coupe, the estate agent working with housebuilder at Cherry Tree Lane, commented: “This increase in buyer activity is certainly spurred by pent-up demand after the market was effectively shut down for two months, but it is interesting to see how this return to the market is playing out.

“The enquiries we are getting are all serious buyers, who are in a position to move quickly, so it is a huge benefit that the properties at Cherry Tree Lane are complete and ready to move into. People may have been sitting at home during lockdown with time to research what they want – for example many people seem more knowledgeable about Help to Buy and the boost it can offer buyers.”

He sees the development’s semi-rural location, close to the Surrey Hills, appealing to those who have come to value the merits that the outdoors and nature has highlighted during lockdown. With more people working from home and intending to continue to embrace flexible working practices, there is increasing interest in moving out of cities and towns to somewhere with more space and a warm sense of community.

Cherry Tree Lane has a collection of traditionally styled houses in a range of one- to five-bedroom layouts, set around green spaces and a pond. “While there are other new homes developments in the Cranleigh area, Cherry Tree Lane stands out in terms of its attractive traditional village style and boutique feel,” said Coupe.

Philip Brown, sales and marketing director at Millwood Designer Homes, commented: “Many of our current buyers are moving from the London suburbs or from inside the M25 and want more of a countryside feel and somewhere to settle down. Ewhurst is still very convenient for Cranleigh and connections into London, but given recent circumstances, many people are becoming less reliant on commuter links and instead place greater value on their immediate living environment and local community.”

Ewhurst itself has a village hall and local shops, while Cranleigh is less than two miles away for a wider range of shops and everyday amenities, while Horsham and Guildford are also close by. For travel connections, Ockley is the nearest station from where rail services to London Victoria take just over an hour. By car, the A24 runs close by connecting with wider road network and Gatwick Airport is about half an hour’s drive.

Brown continued: “Prior to lockdown we hadn’t had any Help to Buy purchasers at Cherry Tree Lane so this surge in buyers through the scheme is very noticeable. It shows that while people are eager and ready to move, the financial boost offered by such schemes is much needed and people want to make the most of it. It is a great sign for the market to see this current activity, we just hope it will be sustained.”

With prices currently starting from £415,000 for a two-bedroom house, all of the properties at Cherry Tree Lane priced under £600,000 are available through Help to Buy. The scheme due to be restricted to first-time buyers from 2021 and phased out altogether in 2023. “We hope that the government will consider an extension of Help to Buy because given the wider economic circumstances people are going to need help more than ever,” added Brown.

The show home is open daily for socially distanced viewings strictly by appointment only. Find out more at www.millwooddesignerhomes.co.uk.

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