Partner Article

Jobs and homes boost for South Wales

In a major boost to the South Wales economy, leading local housebuilder, Barratt Homes has announced plans to open four new sites creating 528 new homes across the local area. The new sites will underpin more than 1,000 local jobs.

The new developments include new homes in Cardiff, Newport and Swansea and the expansion plans follow a strong recovery in the housing market with the availability of the Help to Buy – Wales scheme.

Barratt already has a number of successful developments in the area and the homebuilder predominately employs local sub-contractors and tradesmen – so local businesses and people will benefit directly from the jobs.

“We have seen demand for new homes expand very quickly over the year and the new sites we are opening mean that there will be more choice for local buyers,’’ said sales director Richard Lawson.

“And it’s good news for the local economy as in addition to the local construction jobs underpinned by building the new homes, the local people who move into the new housing will also spend their wages locally. This means a significant boost for local retailers as well. It’s exactly what this area needs.”

Richard said the new jobs weren’t the only piece of good news for people in South Wales in 2015. He said: “The really great news this year is the continuation of Help to Buy - Wales equity mortgages, which means first time buyers and those moving up the housing ladder can get moving with just a five per cent deposit, a 20 per cent equity loan, and a 75 per cent mortgage.

More than 1,000 homes have been bought using Help to Buy – Wales since its launch last year.

The scheme is providing a welcome boost for first time buyers and those looking to move up the housing ladder and Richard said it has been so successful because it addresses the issue of buyers struggling to raise a large deposit and because it is open to so many people.

“Buyers have praised the scheme for enabling them to move into their dream home and it has been successful at our developments throughout South Wales,’’ said Richard.

This was posted in Bdaily's Members' News section by Barratt Homes .