Family-run business Pennyfarthing Homes has launched 19 new properties at 30% below their full market value at its popular Potters Wood development in Verwood, Dorset. Designed to provide local homes for local buyers as part of the government’s “First Homes” initiative, and developed in partnership with Dorset Council, the properties will be available and priced from just £180,000.
The First Homes scheme was designed with first-time buyers and key workers in mind. It aims to get them onto the property ladder in the local area where they live or work by making discounted homes available, with the discount applying to the homes in perpetuity. That means all future buyers can benefit from advantageous prices, so that First Homes continue to provide an easier route to property ownership for generations to come. Pennyfarthing Homes is the first housebuilder to provide First Homes in the Dorset area.
Potters Wood received planning approval for its third and final phase of properties earlier this year. The neighbourhood will be home to 268 homes once complete and has seen consistent sales success since the first properties launched there in 2019.
Councillor Gill Taylor, Cabinet Member for Health and Housing said: “This is the first of what we hope will be many more First Homes initiatives in Dorset. We hope it will pave the way for similar schemes across the Dorset Council area.”
“I would urge any local residents, including essential workers, who can afford to make this kind of financial commitment to express an interest. There are benefits too for the wider Verwood community, by retaining a skilled local workforce who can live in the area.”
Key workers in Dorset who thought home ownership was out of reach, should consider registering their interest for these First Homes as demand is expected to be high. They will include two and three-bedroom houses, as well as one and two-bedroom flats, ensuring buyers with a range of housing needs have a chance to get onto the local property ladder. Supporting home ownership is a key goal at Pennyfarthing, as Sales and Marketing Director, Sheetal Smith explains:
“With house prices well over eight times annual earnings in England[1], it can be incredibly challenging for first-time buyers and key workers to get onto the property ladder. Our aim is to combat that by making it more affordable for local buyers to purchase a home at our flagship Potters Wood development.”
In addition to its collection of high-quality properties, Potters Wood is home to play areas, public open space, ponds, wildflower grassland and a beautiful Suitable Alternative Natural Greenspace with areas to walk, cycle and relax in nature. A well-considered biodiversity plan ensures a harmonious balance between the development and the natural world, with bat boxes, bird boxes (including barn owl boxes), bee bricks, hibernacula, hedge habitats and more supporting local protected species to thrive.
The 19 newly launched First Homes are located on a four-acre greenfield site that will bring additional open greenspace to Potters Wood, supporting residents of all ages to enjoy a healthy, active lifestyle. The Verwood location also provides easy access to a selection of towns with a rich history, including Ringwood, Ferndown, West Moors, Bournemouth, Fordingbridge, Wimborne Minster and Canford Magna.
Available to move into from January 2025, the new homes at Potters Wood will feature contemporary interiors designed around modern family lifestyles. The range of property types available to first-time buyers means young families and those who work from home can all find the ideal property to suit their needs.
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