It’s an exciting time to be a first-time buyer. The government’s new mortgage scheme, announced in the Spring Budget and designed to help buyers with a 5% deposit get a mortgage, saw first-time buyer enquiries increase by 472% in a single week. The scheme puts homes such as those at Queens Acre in Wokingham and Renaissance in Reading within the reach of many buyers for the first time.
Owning a home is cheaper than renting one in all parts of the UK, with the average first-time buyer able to save £2,268 per year by moving from renting to owning. Yet with average deposits standing at over £50,000, many have been unable to make the move. Until now.
Emma Jones, Sales and Marketing Director at Bellway Thames Valley, comments: “The surge in activity from prospective first-time buyers is revealing some interesting insights into what’s important to those who are ready to buy their first home. Perhaps understandably, given the pandemic, we’re seeing a focus on all things healthy, from local environment to property price tags.”
Wokingham, the site of Bellway Homes’ Queens Acre development, wins big in this respect. Figures released by the Office for National Statistics in December 2020 show that it is the healthiest and least deprived location in the country. With just one and two-bedroom apartments available in a private, gated community just two miles from the town centre, Queens Acre is ideally positioned for those looking to blend a healthy lifestyle with access to every modern convenience. High quality homes in a peaceful yet accessible location are very much in tune with first-time buyers’ wants and needs right now.
Buyers are, of course, also looking at the longer-term picture when it comes to what they want from a property. Wokingham, like nearby Reading, provides easy access to London by both rail and car, via the M4. Being able to live somewhere healthy outside the capital, while still accessing it when required for work or leisure, is the perfect scenario for many buyers.
Reading is a major destination in its own right, with a thriving tech scene, attractive shopping district and vast array of leisure facilities. Bellway also has some fabulous contemporary apartments close to the Reading town at Renaissance. Buyers here will have the Rivermead Leisure Complex, with its state-of-the-art gym, swimming pool and squash courts, just a three-minute drive away. Caversham Heath Golf Club, Calcot Park Golf Course and Reading Golf Club, meanwhile, are all reachable by car within 15 minutes.
The homes at Renaissance range from one to three bedrooms, with high-quality fixtures and fittings as standard and a range of options available for personalisation. They are located close to a number of well-regarded schools, making them the perfect choice for families buying their first home.
The government-backed 5% deposit scheme runs until December 2022. Buyers, naturally, want healthy price tags as well as healthy homes, and both Queens Acre and Renaissance certainly deliver in this respect. Homes are Queens Acre are priced from £239,950 to £297,500, (deposits from just £11,998) while those at Renaissance range from £222,000 to £322,500 (deposits from just £11,100).
For further information about these stunning developments, please call 0118 933 8032 or visit www.bellway.co.uk.