PART EXCHANGE PROVIDES LIFELINE TO HOUSEBUILDERS IN DIFFICULT MARKET

September 2008

Housebuilders struggling to sell new homes in the current market conditions are increasingly using part exchange as a mechanism for sales, reports New Homes Part Exchange, which has doubled its business since the beginning of 2008.

The company enjoyed record sales figures in September, when it successfully completed the sales of 71 resale properties on behalf of housebuilders, providing a considerable boost to the new homes market.

By pricing resale properties realistically for a quick sale, New Homes Part Exchange only takes on average 4.2 weeks to find a buyer from the initial marketing of the home, and just six weeks from reservation to exchange in the current market.

Gaynor Hookings, Marketing Director of New Homes Part Exchange, comments:

"Part exchange has come into its own as the property market has stagnated, proving a lifeline to housebuilders who need to remove chains from the process in order to secure sales.

"It is clear to us that customers do still want to move, and are able to press ahead once the sale of their existing home is no longer a concern. Finance is readily available for those who are making sensible purchases, with a good credit rating."

New Homes Part Exchange has proved the value of the part exchange model to housebuilders while trading conditions have been testing, and intends to build on this when the market improves.

Elaine Dafur, Sales Director at Gladedale Homes has been using the New Homes Part Exchange service for four years. She comments:

“Part Exchange is the sales tool of the moment within the new homes market, proving a key enabler for those who are looking to move but are struggling to sell their existing home. In a good market part exchange can help to make a customer’s life easier, but in a difficult market it can prove a lifeline.”

-Ends-

Notes to Editors

New Homes Part Exchange, sister company of the New Homes Mortgage Helpline, is dedicated to providing a complete sales service to the housebuilding industry, specialising in part exchange. Launched in 2000, it has built an enviable reputation within the new homes industry and is now the fastest growing part exchange company in the UK.

New Homes Mortgage Helpline is the leading UK new homes mortgage specialist, providing mortgage expertise to House Builders and their clients.

Visit www.nhmh.co.uk

For further information please contact The Wriglesworth Consultancy:

Sarah Randle s.randle@wriglesworth.com,
020 7427 1428

Claire Hendry c.hendry@wriglesworth.com,
020 7427 1407

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