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2 July 2010
Statistics recently released indicate that the amount of first time buyers increased by 32% between the second half of 2008 and the same period in 2009.* With first time buyers accounting for almost 40% of all mortgages* it is encouraging to note that the housing market is making a steady recovery. One of the reasons for this key increase is the private funding offered by many developers. Jessica Haley is a first time buyer who was only able to invest in a new home at Countryside Annington’s development, The Green at Fortuna Park in Colchester, because of the financial support provided by the developer.
Jessica, 25, is a childrenswear designer and her fiancé Robert, 24, is a music teacher. They currently live with their parents and plan to move into their new home after their wedding in August. Jessica comments: “Robert and I desperately wanted a place of our own. We are in our mid-twenties and both have good jobs, but getting a mortgage was a real struggle. When we looked into buying a newly built property, Countryside Annington offered to pay some of our deposit. Without that support I doubt we would have been able to invest in a home at all, and I don’t know what that would have meant for our marital plans either!”
Chris Crook, Subsidiary Managing Director, Countryside Properties, comments: “At Countryside Properties a key part of our business is assisting first time buyers with their deposits. This is more crucial than ever before given that mortgages are in short supply and financial institutions are often unwilling to lend. Some private developers such as ourselves are able to bridge the gap and offer incentives to first time buyers to ensure the momentum continues in the marketplace.”
The Green at Fortuna Park offers young couples and families a choice of two, three and four bedroom houses. All of the properties at the development are finished to a high standard and benefit from spacious rooms and open-plan living spaces. The fitted kitchens feature gloss oak finish units with sleek dark worktops and include a range of stainless steel integrated appliances. There are gardens to the front and rear of these stylish new homes, and in the terraces and courtyards allocated parking spaces have been provided.
The Green at Fortuna Park is being built by developer Countryside Annington Ltd., a joint venture partnership between Countryside Properties and Annington. The development is ideally situated within walking distance of a selection of restaurants and shops. Colchester’s vibrant town centre is also just 2.7 miles away,** providing a greater variety of shops and eateries. The railway station in the town also provides commuters who work in the Capital, regular train services to London Liverpool Street, which take approximately 55 minutes***.
The sales and marketing suite is open from 10am to 5pm Thursday to Sunday and from 1pm to 5pm on Monday. For further information, please contact Countryside Properties’ sales office on telephone: 01206 549 760 or visit: www.fortunapark.net
* Halifax: Housing affordable for first time buyers in four in ten areas, 3rd January 2010
** Google Maps
*** National Rail
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