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New scheme offers help for first-time-buyers

Shared ownership scheme offers hope for first-time-buyers Credit: ITV Westcountry

First-time-buyers in Exeter who can't afford a new property are being offered shared ownership.

Details about shares of up to 80% market value are available at an information session at the Guildhall from 1pm to 7pm today, 25 September.

It's being run by the city council in partnership with the government agency, "Help To Buy South West".

House prices to rise

House prices in the South West will jump 7% next year, according to a new forecast from property experts, RICS.

It says there is increasing demand but also a shortage of new properties coming on to the market. It claims the cost of renting the home will rise by 2%

House prices in the South West are forecast to rise by 7% in 2014 Credit: ITV News West Country

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House prices in South West continue to rise

The number of homes coming onto the market has significantly increased as house prices continue to rise in the South West. According the Royal Institute of Chartered Surveyors, the number of surveyors reporting new properties on the market rose by 68 percent.

They say those who may have been waiting for the right time to sell appear to be choosing to do so now.

South West house sales pick up

House sales are up in the region Credit: Rebekah Downes/PA Wire/Press Association Images

House sales in the south west are at their highest level since 2010. The Institute of Chartered Surveyors say agents sold an average of 18 properties in a three month period. They're predicting further increases this year.

  1. Seth Conway

West country property prices rise

The average asking price for a house here in the West Country has gone up by almost four per cent, in just a month. In real terms that means the average price of a home on the market here is just under £260,000.

Experts in the industry say it could be a sign of a revival in the property market. But what does it mean for those who want to buy a home?

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Rents fall in South West

The South West has bucked national trends on rents Credit: Andrew Matthews/PA Wire/Press Association Images

Rents on homes in the South West have fallen by nearly 2% in the past year, bucking the national trend. That's according to the LSL Property Network, owners of chains including Your Move and Reeds Rains.

Nationally, monthly rents increased by 2.9% in the year to August, rising to a typical rent of £734. But in the South West rents fell by 1.9% to £633. Rents have reached a new high in other areas, buoyed by graduates looking for homes in addition to would-be homebuyers who can't raise a mortgage.