OVER a third of property buyers and current home owners in the South West either haven’t heard of the Government’s Help to Buy scheme or have heard the name but remain unaware of what it is, according to a new report.
The research, carried out by removals company Bishop’s Move, which is this year celebrating its 160th year in business, surveyed 1,000 people and asked them to best describe their view of Help to Buy.
In response, 27 per cent in the South West said they had heard of the scheme but had no idea what it was or what it’s supposed to do.
An additional 11 per cent of those surveyed in the South West went on to add that they hadn’t even heard of the Help to Buy scheme.
Bishop’s Move, the UK’s largest family owned removals company with branches in Exeter, Bristol and Cornwall, also found that those looking to buy property in the South West are the least likely in the UK to look at the investment potential of a house when viewing a property.
Just eight per cent said the ability to sell on a property was the first thing they looked for on their initial viewings.
This is compared to 18 per cent in the South East and 16 per cent in the West Midlands.
Chris Marshall, Bishop’s Move Sales & Marketing Director comments: “With just eight per cent claiming the ability to sell on a property was the first thing they looked for on their initial viewings, this again highlights the South West’s popularity amongst looking to retire in the region. In fact our survey in 2012 revealed the main motivation amongst house buyers in the South West was in fact retirement; more than anywhere else in the UK.
“In regards to Help to Buy, whilst the scheme is targeted to first time buyers, which some would argue is largely the younger generations, it does still come as a great surprise to hear of an acute lack of understanding of the scheme amongst those in the South West. Clearly something needs to be done to ensure those looking for a property are aware of the many benefits it brings.”
Founded in 1854 and celebrating its 160th year in business, Bishop’s Move is also the UK’s largest family owned removals company. Now run by the sixth generation of Bishops, it offers specialised removals and storage services for domestic and business customers, from small moves to international relocation. To find out more about Bishop’s Move International Moves visit www.bishopsmove.com .