Newspaper article The Journal (Newcastle, England)

Young Buyers Attracted to Homes near City

Newspaper article The Journal (Newcastle, England)

Young Buyers Attracted to Homes near City

Article excerpt

A MAJOR housing development, designed to breathe new life into the west end of Newcastle has proved extremely popular with young, local buyers.

So far, 66% of those who have bought at The Rise in Scotswood have moved less than five miles to their new home - with 80% moving less than ten. And almost two thirds (64%) are 30 or under.

These modern, eco-friendly homes, just two and a half miles from the city centre have also offered the opportunity for local people to get onto the property ladder - with first-time buyers accounting for 75% of all private sales.

In addition 82% of all those who have bought have taken advantage of the Government's Help to Buy scheme designed to get the property market moving again.

The four main reasons that buyers gave for their decision to choose a home at The Rise were price and design (both 25%), proximity to work (14%) and location (13%).

Situated on the banks of the Tyne, the homes in the first phase of construction went on sale in April. …

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