New Homes Commentary for June 2009

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New Homes Commentary for June 2009
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The new homes market continues to 'bottom out' from a price decline perspective. Although purchases are being held back by a lack of mortgage lending - particularly on new builds - new builds property prices are clearly at rock bottom across the UK. They will also be the best indicator of which areas are starting to recover as stock of new builds are so low, developers will put prices up as soon as they are sure demand for their properties are exceeding supply.

This is shown in regional figures such as in London where new build prices are up by over 15% over a three month period and nearly 13% year on year! This growth is due to increased demand, while supply of detached properties are 76% DOWN in supply versus June 2008.

So, if you are thinking of buying a new build home and can secure the finance to do so, now is definitely a good time to be looking (as long as you are planning to stay in the home for five or more years).

Want to know more? Need help? Then call us on 0845 838 1763 or email enquiries@designsonproperty.co.uk

New Homes Data from Smartnewhomes

Statistic MeasureFeb 09Mar 09Apr 09May 09Jun 09
Average new home price£227,893£220,128£220,955£215,857£214,846
Monthly % change+2.8%-3.4%+0.4%-2.3%-0.5%
Three monthly change+0.6%-2.8%-0.3%-5.3%-2.4%
Annual % change-9.6%-13.2%-13.0%-15.3%-13.7%
 
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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