Demand for properties at Bancon Homes' Aspire development in Aberdeen's Union Grove has been exceptional, with around 150 people attending a launch event, and 500 registering interest in the development. As a result, all 19 of the luxury apartments released in this first phase sold out in record time, three of them under the recently launched Help to Buy (Scotland) scheme.
This scheme allows suitable buyers to buy a new-build home, costing up to £400,000, providing the mortgage and deposit cover at least 80% of the property price. The balance is paid for by an equity loan from the government, that must be repaid when the property is sold or at the end of the mortgage period.
The strong desire for city properties has been reinforced by Aberdeen's recent success in The Good Growth for Cities report, which ranked the Granite City as the Best in Scotland, measuring such key areas as jobs, health, income, skills, work-life balance, house prices, travel-to-work times and pollution.
Iain Innes, managing director of Bancon Homes says: "Aberdeen has long been recognised as an attractive place to set up home and the city's recent ranking is no surprise given its vibrant economy and the continued strong demand for properties.
"Spiralling rental costs, coupled with the Help to Buy scheme, have contributed to the increased demand for properties both in Aberdeen and in more rural locations such as Aboyne, where we've seen a recent 20% increase in sales at our Kemsley Green development."
Aboyne is renowned for being one of the most picturesque villages in Royal Deeside and Bancon's Kemsley Green is the only site offering Help to Buy locally. As a result it has already taken its first reservation under the Scheme, and has stepped up construction work to meet increased demand for luxury family homes.
The Kemsley Green showhome is open Friday to Sunday from 11.00am to 5.00pm. Prices at the development start at £283,000.