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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 MeasureFeb 10Mar 10Apr 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 MeasureAug 09Sep 09Oct 09Nov 09Dec 09Jan 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 MeasureFeb 09Mar 09Apr 09May 09Jun 09Jul 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                    
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