Debut decision will delight flintshire’s first time buyers

Thu, Feb 9th 2006, 11:00

Flintshire first time buyers have been thrown a massive lifeline with planning permission granted for 97 affordable one and two-bedroom properties at St David’s Park, near Hawarden.

The properties are from Redrow’s award winning Debut range and are set to go on sale this spring with starting prices from below £60,000.

Flintshire planners gave the go-ahead today (Wednesday) subject to a Section 106 agreement relating to areas of public open space and future maintenance.

The news comes less than two weeks after the Halifax bank revealed that the number of first time buyers in 2005, was the lowest annual total since 1980 – at 320,000 – and 10% lower than in 2004. The bank’s annual first time buyers’ survey also showed that the average age of a first time buyer is now 33 and the average price paid by first time buyers in 2005 was up 5% to £137,122.

Ian Wilkins, managing director of Redrow Homes (North West), said: “We’re delighted that Flintshire planners have given the go-ahead for our scheme of 97 Debut properties. It is the fourth such development in the UK to get planning consent – and the first in Wales.

“We’re so used to hearing doom and gloom about the housing prospects for first time buyers so it’s great that we can be the bearers of good news for a change.

“Crucially, buy to let investors cannot purchase Debut homes - only owner occupiers are eligible to buy these homes, which could also include customers such as the recently divorced as well as first time buyers.”

Much of the cost-saving in the Debut homes comes from the way in which they are built, using a lightweight structural steel frame and other modern methods of construction, which speeds up the build programme without compromising on quality. Communal heating and hot water systems also provide cost efficiencies, while replacing private gardens with shared outdoor space, maintained by Redrow’s own management company, means Debut properties take up less land than conventional new homes.

With special measures to keep prices and running costs as low as possible and a monthly service charge that will cover gas, electricity and water bills, as well as building insurance and external maintenance, Debut is geared towards making home ownership accessible, affordable and easy to manage.

Debut customers can also take advantage of Redrow’s ‘Easi-buy’ option, with purchasers able to defer up to 10% of the purchase price as an interest-free fixed sum for up to 10 years. The customer has total flexibility how they pay it back – via occasional lump sums, monthly repayments or in whole at any time.

Prices at St David’s Park are expected to start below £60,000 and it is hoped that even the largest properties will be priced under the £120,000 stamp duty threshold.

The Rugby venture has just been voted ‘best development for first time buyers’ in an award scheme run by national consumer property magazine, Your New Home, and was also a major contributory factor in Redrow winning the publication’s ‘Housebuilder of the Year’ title.

Judges commented: “The developer nominated as the Housebuilder of the Year had to display an innovative approach to developing and achieve something significant in terms of the future of house building. After a great deal of deliberating, the judges could not fail to notice the efforts made by Redrow to ease the burden on first-time buyers.

“The impact of Redrow’s affordable range of housing and clever financial concept has dramatically altered the perception of starter homes and has provided real hope for the masses of eager buyers who once thought they were priced out of the market.”

They went on to add: "Redrow has proactively addressed the pressing needs of buyers looking to purchase their first home. Redrow has made brave decisions regarding its Debut concept, primarily putting in place measures to prevent buy-to-let investors from cashing in on the properties.

“This is a developer who is genuinely willing to listen to buyers and has created an engaging scheme - proving that starter homes don't have to be unimaginative. But don't take our word; it's the buyers who have voted for Redrow with their wallets. 85% of homes in Rugby sold out in the first ten hours!"

Construction work on the Debut at St David’s Park scheme will start almost immediately with a sales launch planned for the end of March. Hundreds of people have already enquired about the homes and potential purchasers can register their interest by calling 0845 676 0370.