publication date: Mar 30, 2011
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author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
New Properties UK
New build properties appear to be proving fairly resilient versus the rest of the buying/selling sector. Prices had fallen back in January versus previous months, but bounced back well in February. According to Smart New Homes, the 'long term' average of a new build is fluctuating around £217,500, ranging from around £212k up to £222k over the last few years.
This stability in the new build property market suggests that developers are benefiting from only producing what they can sell while buyers aren't being able to get the bargains in this sector so far that they could have done back in the last quarter of 2008. This stability also suggests that the underlying issues of a lack of supply will continue to hold property prices up overall, putting paid to the 'doom and gloom' predictions that the likes of Capital Economics enjoy putting out.
READ MORE for Kate's comments on the New Build Property Market
READ MORE for Kate's full property analysis and statistics
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