Part exchange can remove much of the stress and cost that selling a home brings with it and this could prove to be a key selling tool for developers in 2012, according to Stubbings Property Marketing.
Stubbings are a specialist agency providing dedicated marketing and sales support for developers and land owners in the UK.
With many home owners concerned about both the saleability of their home and also the future of house prices, developers who offer part exchange are providing a life line to those second or third time buyers that the Government seems to have “forgotten” about in their Housing Market Strategy.
A development currently being marketed by Stubbings for A2Dominion New Homes has attracted many buyers asking whether part exchange is available.
Director of Stubbings Property Marketing, Helen Todd, says:
"With the majority of market commentators predicting a stagnant, if not falling market for property prices in 2012 and lending criteria remaining stringent, house builders are going to have to work harder than ever to attract those elusive buyers.
Having the right home buyer incentives is going to be key. Those sales and marketing teams that are really in tune with the market have been quick to identify the incentives and the sales tools that are still attracting buyers to the new build market.
With so many second or third time movers feeling a little tentative, deterred also by the costs and hassles of selling their existing property, part exchange has proved a real life line.
Four out of the last five house sales we have completed on at the Viva development in Stanwell have been via part exchange. In fact, over the last three months, we have seen a real increase in the number of people calling to specifically enquire about whether part exchange is available on the developments we promote”.
Offering part exchange to existing home owners could certainly prove to be a valuable sales tool and should help those home owners unable to reach the next rung of the housing ladder because of constraints on mortgage funding for first time buyers.
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