First time buyers are set to benefit from slow house sales, with the average price of a new home this month down by 0.9%. Prices have dropped for the third consecutive month, with the average new home now costing £257,036, down 1.2% over the last three months. In response, it appears developers are increasing incentives and introducing a number of offers to persuade buyers to consider new homes in the light of a slowing market. This is particularly beneficial to first time buyers who can capitalise on the range of new incentives on offer. The average price of a first-time buyer home is breaking the £150,000 barrier currently, £25,000 above the lowest Stamp Duty threshold. Although, in many parts of the country, the average price of a new home exceeds this figure, ranging from £220,589 in the East Midlands to £358,180 in Greater London. The average price is £238,037 in Wales. 'This will come as welcome news to first time buyers, the lifeblood of the housing market, and play a vital role in feeding continued demand. If this group continues delaying purchasing their first home, it could prove detrimental to the economy on the whole,' says David Bexon, managing director of SmartNewHomes (www.smartnewhomes.com), who carried out the research.
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Uniquely unique? The Yorkshire grain silos transformed into a home that's a symphony in glass, steel and curvesAmid the beautiful countryside of North Yorkshire, on the edge of the Castle Howard Estate, The Silos is a property for which the word 'house' simply doesn't cut it. And that's not the only way in which it's made us throw out the dictionary.
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Polluting water executives now face up to two years in prison, but will the new laws make much of a difference?The Government has announced that water company executives caught covering up illegal sewage spills could now be imprisoned for two years, under new laws — but many still have their doubts.
