Demand sharpens for Help to Buy

Demand has increased for Help to Buy properties in the first months of 2018, according to a Portsmouth firm of chartered surveyors.

McAndrew Martin Ltd recorded the rise in surveys and valuations in a strong start to the year for its general practice directorate.

The uplift in demand comes as a recent report based on Office for National Statistics (ONS) data showed that more first-time buyers took out mortgages in 2017 than in any year since 2006.

Ian Lee, director of general practice at McAndrew Martin, said: “We have noted increased instructions for surveys and this has been particularly pronounced in the Help to Buy sector.

“This sharpening of demand may be due to increased confidence among young buyers or a demonstration of the continued pressures on the property market.

“Although Help to Buy can appear complex, it does offer a route into property ownership for many people who may not otherwise be able to get onto the ladder.”

Ian added: “We always advise anyone interested in Help to Buy or similar schemes to consult local professionals who are members of the Portsmouth Property Association (PPA).”

Help to Buy

McAndrew Martin is based at the Acorn Business Centre in Northarbour Road. It provides nationwide property-related services in six divisions: architecture, building surveying, general practice, mechanical and electrical engineering, project management and contract administration and structural engineering.

Founded in 1989, the 33-strong firm has national reach with offices in Portsmouth and London.

It was recently rated in the property sector’s Top 100 Consultants for 2017, published by Building magazine.

UK Finance, the lenders’ trade body, recently released a report showing that there were 365,000 first-time buyers in the UK in 2017 – the highest number since 2006 and an increase of 7.4% compared with 2016.

Contact account director James Tourgout on 07827 806400 and james.tourgout@deepsouthmedia.co.uk for more details.