New Homes Commentary for March 2010
Skip to Headline Statistics
February 2010 property statistics do not make good reading - unless you've been predicting a 'double dip' in property prices! New build homes which have shown some staggering increases on a regional basis for the latter half of 2009, even succumbed to a fall in the average price, albeit a very small one.
Simon Bexon from Smart New Homes summarised January's new build results:-
"The demand price spiked significantly in October and November, at one stage breaching the £260,000 barrier. Although it has now fallen back to a more reasonable £236,701, the gap between the demand price and stock price still stands at over £18,000. This suggests that there is a strong level of pent-up demand which is only being held in check by the continuing restrictions on credit in the mortgage market"
Unfortunately although I think new builds can be a great purchase at the moment, I don't believe there is 'a strong level of pent-up demand' in 2010.
In fact I think the election and latest round of bad economic news suggest that demand will stay pretty level this year - and we won't benefit from the 'pent up' demand which caused a flurry of activity this time last year (in 2009).
Regional Performance
All areas suffered a month on month decline, but places such as London, South West and Yorks and Humber still managed to hold onto small annual growth, +23%; +13.4% and +1.3% respectively.
Places that continue to struggle to perform include the West Midlands (down 24% year on year); North West (-14.7%) and Wales (-14.4%).
Watching what happens in the new build market through February and March into April will really give a good idea of what will happen in the rest of the property market - so watch this space!
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 |
| Average new home price | £215,186 |
| Monthly % change | -1.6% |
| Three monthly change | -1.4% |
| Annual % change | -5.6% |
| 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
