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Rents in Wiltshire outstrip inflation

Rents in Wiltshire outstrip inflation.  New figures show that the average cost of renting a home in Wiltshire rose to £931 last month according to the Office for National Statistics.  This represents an increase of 4.8% in the last year, outstripping current inflation rates and rising faster than local wages.

At the end of March, Lloyds Banking Group revealed that the South West was one of just three UK regions where it is now cheaper to own rather than rent a home.  The report goes on to say that the largest annual savings to be made are in the South West.

Laura and Glenn’s househunting search

It is an experience borne out by many in Wiltshire including Laura Bush and Glenn Francis.  The couple had been househunting across Westbury, Warminster and Laura’s hometown of Trowbridge.

“We initially looked at renting locally, but the prices were ridiculous!” explains Laura.  This prompted the couple to investigate buying a new home instead.  “The apartments by Newland Homes at Heron Rise in Westbury popped up on Rightmove.  They were at a really good price and I went straight over there that day to book a viewing” explains Laura.  They were able to move into their new two bed apartment just two months after first viewing it.

Given these latest figures, Housebuilder Newland Homes is encouraging people to make a move and consider the economic benefits of buying a new home.

Marcus Evans, Sales & Marketing Director at Newland Homes, comments: “Homeownership provides long term financial stability, equity growth and the freedom to customise your home to make it your own.  Rental rates in Westbury have been steadily increasing over recent years.  This has lead to higher monthly expenses without any return on investment.  There’s never been a better time to invest in your future by buying a new home.”

Incentives to help make home ownership easier

Newland Homes is close to finishing a development of 89, climate considerate, two, three and four bedroom homes in Westbury.  The development is within walking distance of the town’s train station.  The housebuilder has introduced several tailored incentives to help make home ownership easier for those looking to buy instead of rent.  These include a 5% mortgage contribution available until 31 July 2024 or the Own New Rate Reducer Mortgage, which gives access to lower mortgage rates and reduced monthly payments for up to five years.

A range of new homes are available to purchase at Heron Rise, with prices starting from £189,000 through to £387,500 for a four bedroom home.  A special event is being held on Saturday 6 July to showcase the handful of three bedroom homes remaining at Heron Rise, which has been transformed into a thriving new community.  As Laura explains: “I can’t wait to get home after work and on my days off I don’t want to go anywhere, I just love it so much.”

To book a tailor-made appointment of the homes for sale at Heron Rise, or to book your place at the special event on the 6th July, please call 01373 229294.  Tailor-made appointments are available daily from 11.00am to 5.00pm.  For further information please click here.

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