New Homes Commentary May 2010
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New build prices continued to edge forward in April, but are still only selling out at the same price as last year. Over the last 12 months, average new build prices have been as high as £220,000 but then dropped to around £212,000, so appear to be yo yo' ing, but the current trend is really 'flat' prices.
Due to demand not really picking up year on year, prices for new builds continue to be great value for money as they are still not attracting premiums over second hand homes, yet offer more guarantees and most importantly, have a high energy rating so are cheaper to keen warm.
According to Smartnewhomes index, semi detached properties are the most popular followed by townhouses. Simon Bexon from Smartnew homes suggests that "Detached homes on smaller developments within commuting distance of larger regional towns, London or hte South East's airports are holding their own".
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 | Apr 10 |
| Average new home price | £215,186 | £216,188 | £220,190 |
| Monthly % change | -1.6% | +0.5% | +1.9% |
| Three monthly change | -1.4% | -2.0% | +0.7% |
| Annual % change | -5.6% | -1.8% | -0.3% |
| 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
