First time buyers could benefit from slow sales of new build homes in the coming months, according to SmartNewHomes.com.
The website’s latest monthly index of new home prices reveals prices have fallen by an average of 0.9%; the third consecutive monthly decline. SmartNewHomes.com says falling demand for new homes, caused by the credit crisis, is causing developers to increase the number of incentives and offers available to tempt buyers to consider new homes. One developer, Miller Homes, is offering to pay mortgage subsidies, while another, Fairview, has a ‘Move in Free’ incentive, which pays a 5% deposit, stamp duty, legal fees and offers cash back. The incentives will be welcomed by first time buyers...
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