Mortgage customers are increasingly buying new homes, which is said to be a great sign for the housing market.
According to Connells, it recorded an 18 per cent year-on-year rise in sales in the first three months of 2011, with transactions in the second quarter up 44 per cent on the same period last year.
Group executive chairman for the homebuilder Stephen Shipperley explained that he is optimistic that the rest of the year will go well, with a number of new developments underway.
SmartNewHomes welcomed the news, with director Steve Lees calling it “encouraging” for the market.
He claimed that mortgage customers are now being offered competitive prices by developers, meaning they are getting “excellent value for money”.
“We are optimistic that the wide range of developer deals and incentives, as well as the government’s newly launched FirstBuy, scheme will help sustain industry activity and encourage new home sales,” Mr Lees added.