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HOUSE-hunters struggling to sell their home, or keen to avoid the hassle of a property chain, are invited to find out how they can part exchange for a new house at Monterey Park in Bovey Tracey. The leading housebuilder is holding a part exchange weekend on Saturday, May 3, Sunday, May 4 and Monday, May 5 to give homeowners more information. But with interest running high in the fabulous three, four and five-bedroom homes remaining for sale at Monterey Park, prospective purchasers are urged to get in quick or risk missing out. Janine Copleston, regional sales and marketing director for Taylor Wimpey, said: “The process of selling, buying and moving to a new home can be a frustrating and time-consuming experience, but our part exchange initiative takes away the stress of finding a buyer by eliminating the property chain altogether. “It means the customer can sit back, relax and look forward to moving to a brand new maintenance-free home. “However, the popularity of the initiative means the final homes at Monterey Park are likely to sell fast, so I would urge would-be movers to pay us a visit during partWant to swap? A computer-generated image of a Chelmsford house type at Monterey Park in Bovey Tracey exchange weekend to find

out more while they can.” Part exchange customers receive a fixed price for their existing property, based on the average of independent professional valuations and, with Taylor Wimpey as their guaranteed buyer, they can stay in their old place until their new home at Monterey Park is ready. One of the properties available with part exchange at Monterey Park is the fivebedroom Chelmsford, priced from £349,995. The familysize house features a spacious living room opening through French doors to the private rear garden, plus a kitchen/ breakfast room with utility room, a separate dining room, a study and a guest cloakroom off the entrance hallway. Upstairs, the first-floor landing leads to an en-suite master bedroom with dressing area, two bedrooms with Jack and Jill access to an en-suite shower room, and a main bathroom, while two further bedrooms and a shower room occupy the top floor. Outside, there’s parking for two cars. The sales information centre, in Templer Place, Bovey Tracey is also open daily, while the sales executives can be contacted on 01626 244620.

One in five pay over the asking price

In demand: There is a shortage of semi-detached homes for sale in Britain

Shortage of semis for sale across UK RESEARCH into the shortage of homes on sale across a sample of 175 agents in the UK suggest the biggest problem is with a paucity of semidetached houses. Move with Us, the network of independent agents, says 57 per cent of agents are experiencing a shortage in the number of semidetached homes; 53 per cent say they need more bungalows to meet demand, and 48 per cent report a lack of terraced homes. Data from Move with Us in association with home.co.uk, analysing 209,5000 property sales in December and January shows that

the average selling time for a three bedroom semi-detached is 71 days, from when it is first listed until Sold Subject to Contract (SSTC). This is 55 days faster than the national average selling time for all properties. “The age of the first-time buyer has been increasing over the years and with the five per cent deposit brought about by Help to Buy, many home buyers are now opting to purchase three bedroom properties as their first home. They’re skipping the first rung of the property ladder, forgoing the starter home,” said Robin King, Move with Us director.

SOME 19 per cent of buyers pay above the asking price according to the National Association of Estate Agents. It says the supply of housing on the market has fallen for the sixthconsecutive month from an average of 57 properties in September 2013 to 42 in March 2014, almost a 10-year low. NAEA member agents also reported an increase in the average number of sales agreed per branch, up from nine in February to 10 in March. It points out that although those looking to buy are serious purchasers, the average number of house hunters registering with NAEA agents dropped by five per cent in March, down from an average of 331 house hunters in February to 313 last month. As the buyers face the realities of dwindling housing stock, the percentage of first-time buyers purchasing a property fell from a four-year high of 29 per cent in February to 25 per cent in March. Buyers looking to upsize from an existing home accounted for 50 per cent. “The supply crisis continues to deepen and government must act now to offer house hunters hope in an increasingly congested market. Current conditions mean that in just a few months we’ve seen a large increase in the amount of people willing to offer over market price”

Busy times: Low housing supply is forcing prices up said Jan Hÿtch, president of National Association of Estate Agents. “Overall property sales may be up but the proportion of first timers purchasing a property is down and with the significant changes that the mortgage market review will bring, we’ll be watching closely to see what kind of an impact is felt” she added.

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Is it time for a house swap?

Express & Echo Property 1 May  
Express & Echo Property 1 May  
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