Strong start to 2011 at Park Central

Strong start







Strong start:Bucking the ‘sluggish start for the housing market in 2011’ reported by housing intelligence, Hometrack, the 9.5 per cent fall in housing demand nationally has failed to materialise at Park Central where visitor levels have also risen 44 per cent in the past month.

Strong start:A total of eight sales, six completion and four exchanges took place in January at Park Central with house hunters snapping up a range of apartment and townhouse properties at the scheme’s popular Liberty Apartments and latest phase, Lower Parkside. “January has seen a marked increase in interest at Park Central,” commented Ruth Williams, sales manager for Crest Nicholson.  “We have seen an increase in sales, visitor levels and returning visitor levels, all indicating that house hunters in the region are being increasingly proactive, despite negative national headlines.

“With our Lower Parkside phase released to the market in late 2010, we’ve currently got a great range of properties available at Park Central from entry level apartments to family homes.  This has seen potential purchasers on all levels of the property ladder expressing interest in Park Central and, as the January sales figures show, is proving to be the right mix for the current marketplace.” A number of January purchasers at Park Central took advantage of Crest Nicholson’s HomeBuy Direct scheme.  An affordable means of getting onto the property ladder, HomeBuy Direct allows a £93,000 property at Park Central to be purchased for £65,100, by eligible purchasers with a household income of less than £60,000.  The assistance scheme sees the government and housebuilder cover up to 15 per cent each, or 30 per cent in total of the property price with a loan.  This leaves the buyer with a more affordable mortgage for the remaining 65 per cent together with a five per cent deposit. Also available at Park Central is EasyBuy a dedicated Crest Nicholson scheme under which purchasers have the opportunity to pay just 85 per cent of the price of their new home, which breaks down as a mortgage for 80 per cent and a five per cent deposit. 

The remaining 15 per cent share is covered by an equity loan to be paid back at a convenient time.  This loan is interest free for the first five years, with a low interest rate fixed at just three per cent APR from the start of year six. The only requirement is that the equity loan is paid back within 10 years of the original completion date; or if the homeowner sells the property, the 15 per cent must be repaid at the property’s current open market value. “EasyBuy offers purchasers fantastic support by helping them to secure a mortgage for a reduced amount while still retaining 100 per cent ownership of their property,” continued Ruth.  “Prices at Park Central currently start from £93,000 but by using EasyBuy, qualified house hunters could secure a mortgage on that property for just £74,400 – a great way to get onto the property ladder in 2011.” Bordered by Bath Row and Lee Bank Middleway, and just minutes from The Mailbox, Park Central is an award winning Crest Nicholson development which features an extensive choice of stylish new apartments and townhouses, set around eight acres of landscaped public parkland.  Lower Parkside, the latest phase of the development, offers a range of one and two-bedroom apartments alongside highly exclusive two, three and four-bedroom freehold townhouses. 

  Properties at Lower Parkside are available from £93,000 for a one-bedroom apartment, with two-bedroom townhouses priced from £180,000. Property market 2011 For more information on Park Central, please call the sales team on 0121 666 4666.  Alternatively visit the marketing suite, which is open daily from 10am to 5pm and is located at Park Central, 2 Mason Way, Birmingham B15 2EY.

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