MIDDLE MARKET FACES GREATEST PAIN

April 2009

BUT PART EXCHANGE COULD SET HOUSEBUIDERS APART FROM RESALE MARKET

New Homes Part Exchange, the UK’s fastest growing part exchange provider, is urging housebuilders to use their Part Exchange and Assisted Move sales tools, which support homeowners with the sale of their existing home, within the increasingly frustrated middle market and set themselves apart from the resale market.

While housebuilders and Government have launched an array of schemes and incentives to assist first time buyers, it is the middle market, that is, second and third-time movers, who are facing the greatest struggle to move home. They often find themselves in homes they are fast outgrowing, as reduced equity and a stagnant sales market makes it difficult for them to move up the ladder.

Many homeowners believe that they do not have enough equity to qualify for part exchange, but in fact, New Homes Part Exchange has already assisted with nearly 200 part exchange transactions since the start of the year. As a result, it is urging housebuilders to promote Part Exchange or Assisted Move across all relevant developments and ensure they are using their full allocations to assist the growing number of second and third time movers.

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

“While the recent focus has been very much on assisting first time buyers, it is the middle market where we now need to channel our efforts. Part exchange proved a key selling tool for housebuilders in 2008 and can continue to drive sales while the market remains challenging in 2009.

“For housebuilders with three and four bedroom homes to sell, part exchange is one of the most effective ways to secure a sale. For consumers who are looking to move up the ladder but are struggling to sell their current property, buying new and taking advantage of part exchange may be the only viable route to securing that next step.”

By selecting a part exchange provider that can offer a reliable service with fast turnaround times and accurate valuations, housebuilders can shift part exchange resale stock quickly and with minimum input. On average, New Homes Part Exchange takes just 4.2 weeks to find a buyer from the initial marketing of the home, and just six weeks from reservation to exchange.

New Homes Part Exchange also offers an Assisted Move service, if part exchange does not prove a viable option. New Homes Part Exchange will work with housebuilders’ customers to assist them with the sale of their existing home by organising valuations, liaising with estate agents and marketing and price.

-Ends-

Notes to Editors

The New Homes Group offers a complete solution for housebuilders looking to secure sales, assisting them and their customers from initial interest through to legal completion. The group is dedicated to the new homes market, with over 30 years experience in the industry.

The New Homes Group includes New Homes Mortgage Helpline - the UK’s leading new homes mortgage specialist, New Homes Part Exchange - which offers the fastest and most efficient part exchange service in the new homes industry, Independent Mortgage Helpline, The Legal Helpline and Customer Relationship Management. Operating nationwide, the group can assist housebuilders across the country in all elements of the sales process.

Visit: www.thenewhomesgroup.co.uk

For further information please contact The Wriglesworth Consultancy:

Sarah Lawrence s.lawrence@wriglesworth.com,
020 7427 1428

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

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