The message is getting through!
In marketing you do sometimes worry in the initial stages of a campaign that despite all the communication you are doing advertising PR blogging etc nobody is listening.
I’m glad to say that two pieces of information have come our way in recent weeks which suggest that one of our key markets is not only listening but also acting on what they hear.
Firstly we commissioned some research amongst first time buyers which has come back with some very positive results. Yes many first time buyers do still have some very justifiable concerns about deposits and their ability to get onto the housing ladder but the results suggest that more and more are getting switched onto shared equity as an option to help them achieve their dream home. 48% of first time buyers said they knew what shared equity was and 41% said that they would consider shared equity as a method to help them get on the housing ladder. When you consider that the Government’s flagship shared equity scheme Home Buy Direct was only launched in March this year I believe this is a very positive result.
The second bit of good news was that our efforts to promote Home Buy Direct are bearing fruit. In the North East region we have sold nearly 70% of our allocated units more than any other housebuilder. We got behind Home Buy Direct with a TV advertising campaign in the North East early and it is very heartening to see that first time buyers have responded so positively.
My only concern now is that time is running out for first time buyers in terms of Home Buy Direct at least. Realistically reservations have to be made by the end of December to hit the 31st March deadline.