Nationally, however, buyer interest in Help to Buy properties has faltered, decreasing by 13% across the UK in February. An indication that rising interest rates and cost of living is impacting first-time buyers’ ability to get onto the housing ladder.
New data from whathouse.com the UK’s leading new home audience platform can reveal that February was the busiest month on record for Scottish luxury new home hunter activity, as forever home hunters head into spring feeling confident. It seems that as the final legal restrictions end people are putting into action long-planned lifestyle changes. And, having taken the opportunity to save over the past twenty-four months, are now using their strong position to step up to a luxury new build home.
Dave Bexon, Non-Exec Director, whathouse.com, comments: “The findings of the whathouse.com February 2022 index reinforce the trends that many have been noticing over the last twelve months. There is no surprise that the most buoyant segment is Scotland’s luxury new home market. Experiences through the pandemic have shaped people’s thinking about life’s priorities, and our data suggests many home hunters are taking the opportunity to return to their roots in new build homes that enable a balance of nature and comfortable commuting distance of work.”
“The drop in home buyer search for Help to Buy is a reflection of lower confidence levels starting to impact those buyers taking the first step onto the property ladder. This is the early fall out of recent economic and geopolitical events. Generally, the outcome for 2022 spring/summer buying season remains positive, but housebuilders will be keeping a close eye on the shifting landscape in the short to medium term.”
