New Homes Market Update March 2009

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Monitoring the new homes market is a useful guide to understanding whether housing prices have 'bottomed out'.

Unlike second home owners, developers have to sell their properties, so they will drop prices as they need and offer incentives to buyers to purchase, so when new homes consistently stop falling in price, you know the developers are likely to have reached the minimum value it's worth them selling properties for.

The latest data on new homes actually shows a small increase in February prices, but this looks like it was a one off for now as prices have come down again for March (see stats below). This decrease coincided with one of the largest number of new builds coming onto the market (2,270 homes in March) since April 2008.

However, differences in the supply of different types of new homes are starting to show an "imminent shortfall in the availability of larger homes" comments David Bexon, Managing Director of SmartNewHomes. READ MORE 

New Homes Data from Smartnewhomes

Statistic MeasureFeb 09Mar 09
Average new home price£227,893£220,128
Monthly % change+2.8%-3.4%
Three monthly change+0.6%-2.8%
Annual % change-9.6%-13.2%
 
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

NALS Conference Chair 2016

Kate's Consumer Portal

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