A new housing report has shown that financial pressure on young people has led to a decline in the number of UK homeowners[1]. The figures demonstrate that the number of young homeowners has dropped by 20% in 12 years, thanks to reduced income, tougher restrictions on mortgages, and rising prices, which is also leaving many first-time buyers struggling to reach that next rung of the property ladder. To help those looking to make the leap from their first apartment to a larger house, Bellway Homes is offering assistance to prospective second steppers at its new development Avellana Place, in the historic town of Colchester, in Essex.

Avellana Place offers a selection of two, three, four, and five-bedroom homes, nestled in the North Essex countryside. Selected homes at Avellana Place are now available with Bellway's Part Exchange package, designed by experts to help make buying and moving simple and painless. Part Exchange enables homeowners to trade in their home as part payment for a new build property bought from Bellway, helping buyers significantly reduce the stress of purchasing their new home. This means there is no risk of a property chain collapsing, and no estate agency or advertising fees to pay. Bellway offers a fair price for purchasers' existing homes, based on an independent valuation, and buyers can stay in their home until the new house is ready.

Divisional Sales Manager for Bellway Essex, Gemma Bannister, comments: “It's shocking to see such a decline in young homeowners, it's definitely a difficult time in the housing market for those trying to get on and move up the property ladder, and that's why Bellway is offering assistance to those trapped by rising house prices at Avellana Place. Our Part Exchange scheme helps people secure their dream new home, whilst also cutting down on the expense and stress associated with selling their existing home, which is a particularly attractive offer at this time of year!”

The two-bedroom Montrose housetype is a great example of the stylish homes available at Avellana Place, and ideal for those looking to upgrade from a smaller apartment. On the ground floor, the open-plan living and dining room benefits from double doors into the rear garden.

The separate modern fitted kitchen, which features a choice of fitted units and worktops, comes complete with a Zanussi stainless steel oven, gas hob, cooker hood, and stainless steel splashback. Space is also incorporated into the layout for a dishwasher and washing machine.

On the first floor, both bedrooms are served by the family bathroom featuring tiling to the walls, contemporary white sanitaryware and chrome-finish brassware.

Avellana Place is conveniently located within close proximity to Colchester's bustling town centre, which offers a variety of well-known high street retailers, independent boutiques, and market stalls. The town also provides residents with an abundance of green open spaces, including the idyllic High Woods Country Park, which is perfect for walks or picnics.

Young families will be impressed with the area's excellent selection of schools, with two of the top performing selective grammar schools in the country within 15 minutes of Avellana Place.

Colchester is served well with transport links, with Colchester train station less than 10 minutes from Avellana Place, where journeys into London Liverpool Street take as little as 49 minutes. The A12 and M25 are easily accessible for journeys to London and the surrounding areas. For jet setters, Stansted Airport is just over 35 miles from the development, covering over 170 direct flights and connecting to all reaches of the globe.

Prices at Avellana Place start from £239,995 for the two-bedroom mid terrace Montrose; from £309,995 for a three-bedroom house; from £454,995 for a four-bedroom detached house; and from £479,995 for a five bedroom detached house.  Part Exchange and Help to Buy are available on selected homes. For further information, visit www.bellway.co.uk or call 01787 464065.

-ENDS-

Notes to editors:

Prices and housetypes quoted above are correct at the date displayed on Page 1. Please note, prices may be subject to change or the product may not be available at the time of publication, so please do check with the contact above.

[1] http://www.redfernreview.org/wp-content/uploads/2016/01/TW082_RR_online_PDF.pdf