A MAJOR new name in housebuilding has been launched in the south east. The developer, Wilcon Homes, has taken on the group name, Wilson Connolly. The move follows the acquisition of Wainhomes by Wilcon Homes last year.

Graeme McCallum, the group chief executive, said: “Since taking over Wainhomes last year, we have been physically merging the two businesses gaining synergies and economies of scale. The logical next step was to bring together the two names.”

James Rowntree, managing director of Wilson Connolly South Eastern said: “The merging of the two businesses has run very smoothly and we are now embarking upon the final stage of the process, so that we present a single face to our customers.”

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THE last two three-bedroom bungalows are available at Kings Chase in Willesborough, on the outskirts of Ashford.

The Pelham Homes development lies on the edge of the surrounding countryside but has access to the M20 and Ashford town centre, a range of leisure facilities and is convenient for Channel hopping.

The Aragon, a three-bedroom detached bungalow has a detached double garage, fitted kitchen including a double oven, hob and extractor hood and a fridge/freezer, double wardrobe and en-suite to master bedroom and fireplace in the lounge.

Plots 28 & 29, both on a small close of just five detached bungalows are available at £250,000, the selling agents are R.P.C. Land & New Homes (01622 691911).

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LOW interest rates do not mean house prices will continue to boom, says FPDSavills.

Overall, the agent expects the rate of house price growth to slow to five per cent by the end of 2002.

Depending upon which house price index is used, values are rising at somewhere between 14 per cent and 16 per cent per annum and are now some 52 per cent higher than they were at the peak of the boom in 1989.

Richard Donnell, head of residential research at FPDSavills, said: “Ultimately this strong growth in house prices is the result of a major imbalance between supply and demand in the UK’s housing market.

“Strong levels of employment growth and rising household incomes have also greatly increased the demand for housing. This, together with the UK’s low level of new house build, the lowest per capita per rate in the western world, has resulted in the strong growth in average house prices.”

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C&G’s housing affordability index shows that in the South East only £38.70 out of every £100 of average take home pay is being spent on the mortgage.

According to C&G, with mortgage rates at their lowest levels for nearly 50 years and pay settlements running ahead if inflation, even with house prices higher than ever, affordability appears to be good.