A year ago, local estate agents were reporting that average rental prices had reached an all time high in Colchester. The average last June stood at £762 a month and was expected to rise again. And they have: The average rent in Colchester is now estimated at £776 per month – renting seems as popular as ever in the town.
However, since those all time high figures from last June were published, the Government has introduced its innovative NewBuy* scheme, which aims to help people buy new homes by effectively bridging the deposit gap.
The scheme came into being in March of this year and, according to the Home Builders’ Federation, is already proving to be a success. It has attracted four hundred new buyers in the first nine weeks since its launch and is expected to attract tens of thousands more over the next three years.
NewBuy requires just a 5% deposit while securing a 95% fixed rate mortgage and applies to any new build home – house or apartment – as long as it costs less than £500,000. It begs the question why rent in Colchester, when you can NewBuy?
The NewBuy scheme is available at Northfields, Linden Homes’ new Colchester development. These very contemporary homes sit comfortably alongside green, open spaces offering the best of both worlds. They include two, three and four bedroom houses.
And they are extremely well located, within walking distance of Colchester railway station and within easy reach of Colchester town centre.
If you’d like to know more about Northfields, or if you want more details about how the Government led NewBuy scheme applies to the Northfields’ homes, then please visit the sales and marketing suite at Northfields which is open every day from 10am to 5pm. You can also call 01206 844 755.
*conditions apply
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For further information, contact Tracy Mannion or Naomi Wellman at Remarkable Public Relations on 01962 893 893 naomi.wellman@remarkablegroup.co.uk
