New Homes Commentary for April 2010
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Prices for new build properties had a bit of a 'spurt' in March from February, bucking the downward trend that seemed to be forming.
Simon Bexon from Smart New Homes summarised March's results:
"A subtle shift in the property market is now occurring with the traditional emphasis on 'location, location, location,' now seeming slightly less important, with buyers increasingly prepared to compromise on their preferred area in order to secure a brand new home."
Kate Faulkner, property expert comments "People compromising on what they buy is likely to be driven by new build buyers seeing prices moving upwards versus last year and stock disappearing as the shortage of new build properties hits the market".
Regional Performance
Having seen a drop in prices in many areas across the UK over the last few months, there are some areas that are still posting price rises. These include the South West which is +9.7% YoY and +7.6% over the last 3 months. and Scotland +3.1% YoY and +1.8% over the last 3 months.
To date, Greater London has led the new build market, but demand must be slowing as prices are -7.6% YoY and down 12% over the last 3 months. Other poor performing regions include the West Midlands down by a massive 21.2% YoY and 3% down over the last 3 months.
Want to know more about property prices? Need help buying a new build? Call us on 0845 838 1763 or email enquiries@designsonproperty.co.uk
New Homes Data from Smartnewhomes
| Statistic Measure | Feb 10 | Mar 10 |
| Average new home price | £215,186 | £216,188 |
| Monthly % change | -1.6% | +0.5% |
| Three monthly change | -1.4% | -2.0% |
| Annual % change | -5.6% | -1.8% |
| Statistic Measure | Aug 09 | Sep 09 | Oct 09 | Nov 09 | Dec 09 | Jan 10 |
| Average new home price | £217,058 | £212,124 | £214,909 | £218,160 | £220,537 | £218,575 |
| Monthly % change | +2.2% | -2.3% | +1.3% | +1.5% | +1.1% | -0.9% |
| Three monthly change | +0.6% | -1.3% | +1.2% | +0.5% | +4.0% | +1.7% |
| Annual % change | -10.4% | -10.2% | -7.5% | -3.7% | -2.6% | -1.4% |
| Statistic Measure | Feb 09 | Mar 09 | Apr 09 | May 09 | Jun 09 | Jul 09 |
| Average new home price | £227,893 | £220,128 | £220,955 | £215,857 | £214,846 | £212,440 |
| Monthly % change | +2.8% | -3.4% | +0.4% | -2.3% | -0.5% | -1.1% |
| Three monthly change | +0.6% | -2.8% | -0.3% | -5.3% | -2.4% | -3.9% |
| Annual % change | -9.6% | -13.2% | -13.0% | -15.3% | -13.7% | -13.6% |
For more market commentary on a national or local level:-
Contact Kate Faulkner on 07974 750562 or 0845 838 1763. To read more about Kate, please visit ABOUT US, see Kate on video and for media appearances, contact:
Sylvia Tidy-Harris
STH Management
Tel +44 (0) 1530 263221
Mob +44 (0) 7970 646872
Fax: +44 (0) 1530 264018
