Help to Buy boost for homebuilder

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A housebuilder is expecting to build 1,304 homes in Yorkshire - including 200 in South Yorkshire - this year, underpinning an estimated 2,600 jobs.

Barratt Developments, which includes Barratt Homes and David Wilson Homes, has announced plans to open 12 new sites in 2015.

The expansion plans follow a strong recovery in the housing market due to the launch of the Help to Buy scheme, it says.

Barratt Homes and David Wilson Homes already have developments in the South Yorkshire area including The Edge in Rotherham, Serenity in Doncaster, Pembridge Park in Auckley and Woodlands Walk in Branton.

Sam Wood, sales director at Barratt and David Wilson Homes Yorkshire West, said they predominately employed local sub-contractors and tradesmen – so local businesses and people would benefit directly.

He added: “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.

“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.”

Paul Hogan, sales director at Barratt and David Wilson Homes Yorkshire East, said: “The continuation of Help to Buy Equity mortgages 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.”