A new starter home range by Scottish homebuilder Avant Homes has been welcomed by Michael Matheson MSP as a successful example of young people being supported onto the property ladder, as it revealed nearly three quarters of buyers (71%) in the past year were young people in their 20s and 30s.
Last year, Stirling-based Avant Homes piloted two new ‘Bridge’ developments, Chacefield Loan in Denny and Greenhall Fields in Blantyre. Launched with the aim of bridging the gap in the supply of high-quality starter homes for young people at an attainable price point, the new product innovation has seen 45 sales with an average selling price of £175,000.
Mr Matheson visited Chacefield Loan in his Falkirk West constituency as part of Scottish Housing Day this week.
Commenting on Avant’s success in attracting younger buyers to the development, the MSP said: “Having gained a first-hand insight into the development, and the choice it offers in terms of house sizes, designs and prices, it’s encouraging to see that so many young people have been able to secure their first home here in Denny.
“It’s also clear how fundamental the Scottish Government’s Help to Buy scheme is for people to get onto the property ladder. Helping our young people build their future is key for Scotland’s future success, and through home ownership we can help provide a good footing for the next generation.”
The majority of homes in Avant’s Bridge range are priced under £200,000, making them compatible with the Scottish Government’s Help to Buy scheme which helps buyers purchase a new home with a 5% deposit.
Following the success of the Bridge range, Avant Homes estimates the range will eventually make up 30% of its overall build output and will form a key factor in its five-year strategic plan to double the size the business, delivering 4,000 units per annum and a £1 billion turnover by 2023.
Avant Homes Scotland managing director, David Knight, said: “For years, the Scottish housing market hasn’t worked in favour of younger buyers, who have been priced out altogether or given limited choice of locations, styles and designs. At our Bridge range trials in Denny and Blantyre during the past year, we’ve shown that our response works for buyers.
“We see the Bridge range as a significant part of the future of our business and hope that by delivering more Bridge homes we can increase both the choice and the supply of housing available to young people.
“With plans to extend the Bridge range across our whole UK portfolio, we’re excited about the future, and making home ownership more achievable for young people, which will ultimately help provide a brighter future for Scotland.”