Pictured above: Helen Rollason

The return of 'off-plan' sales across Walton Homes' Midlands development portfolio is a clear sign of market recovery, says the award-winning regional developer. 

Despite wide-held expectations that the General Election and Emergency Budget could have deterred people from making the decision to move, gross mortgage lending was up by seven per cent in May and June, and predictions are that this trend will firmly continue throughout 2010. The latest quarterly Halifax House Price Index reports that national house prices are up by 8.3 per cent from their April 2009 trough. However, the average UK house price is now £167,570, which is still 16 per cent below its August 2007 peak. Walton Homes reports that these factors - combined with first time buyers being exempt from stamp duty payments on purchases lower than £250,000 - all point to this being an ideal time to move on or up the property ladder. 

Helen Rollason, new homes sales coordinator at Walton Homes said: "Prospective purchasers are much more confident and decisive than they were last year. They can see that house prices are rising and they are being far less hesitant about securing their preferred plot, whether it is a new apartment or house. 

"The sheer scarcity of new homes across the region is also helping to fuel market demand. Across our entire Midlands portfolio, we only have local competition from another housebuilder at one of our development sites. Buyers are simply comparing our quality product with second hand property and there are many people who simply feel much more comfortable buying a new home, knowing that they get the peace of mind of a 10 year NHBC guarantee, will generally benefit from lower energy bills and don't need to worry about DIY and costly home maintenance. 

"Some of our development sites have even had to increase the pace of the construction programme to respond to the rate of sale. It is a very different market from 2009, illustrated by the statistics from the latest Halifax House Price Index, which reports that prices are 8.3 per cent above their April 2009 trough. This certainly is a great time to buy, especially with mortgage rates being at an all time low level, which is set to continue for a while." 

To recognise the pent-up demand in the market, Walton Homes is offering tailor made incentives across a selection of apartments and houses, such as part exchange deals, paying stamp duty and even matching a first time buyer's deposit up to an agreed threshold to help them to secure a good mortgage offer. 

Walton Homes' most popular incentive offer includes the Lion's Share initiative, where buyers can pay a minimum of 75 per cent of the value of their new home through a deposit and a conventional mortgage. Walton will pay the remaining share (up to a maximum of 25 per cent), with the only requirement being that when the property is eventually sold on, or after 10 years - whichever is sooner - Walton's percentage share is paid back as a proportion of the property's current market value. 

Another incentive programme currently being offered is Select & Move, which enables existing homeowners to reserve their preferred plot for an agreed period. Further details can be obtained from each development.  

Walton Homes' current development portfolio comprises luxury family homes at both Honeybourne Grange in the sought after village of Alrewas and at Willowmead in Stapenhill, close to Burton on Trent. Elsewhere in Staffordshire, the family-owned developer is creating character rich one, two and three bedroom homes at the historic Hemlingford Mill conversion next to Kingsbury Water Park. 

In affluent Mere Green in Sutton Coldfield, Walton Homes is marketing large luxury apartments at a sensitively designed development named The Lincombes, where the third and final phase is now under construction to meet market demand. At Greenway Park in Two Gates, Tamworth, the recently launched final phase of apartments called Carisbrooke House is also selling ahead of target. In Corby in Northamptonshire, the house builder is nearing the end of the development programme at Radbrook Rise, which has been an extremely popular development of 101 two, three and four bedroom homes.