Download

New Homes Commentary for November 2009

Skip to Headline Statistics

The new homes market shows more boyant figures for October, no doubt showing the increased desire for people to move prior or just after Xmas. We expect a slowdown for late November/December figures, but as stocks are pretty low and new build is such good value for money at the moment, buyers are keen to purchase where they can.

Demand seems highest for properties just under the 3% stamp duty limit (£250,000) and so we see second time buyers who already have some equity in their homes buying rather than first time buyers. As a result detached homes are only down a few percent versus last year and up nearly 5% for the month.

And for buyers holding out for more falls, be careful as stock of new builds is still low and prices do appear to be rising. Wimpey for example are already reported to have put prices up slightly. No need to rush into anything, but watch carefully what's happening. And, don't forget, if you are looking to buy new build you can part exchange your old home and you get better deals at developer's year and half year ends.

David Bexon, Managing Director of Smartnewhomes comments "The continued discrepancy between stock price and demand price (the average amount buyers are looking to pay) in the new homes market, not only indicates the high level of consumer confidence but also points to the type of property buyers are looking for. Demand price has remained above £240,000 for the past three months, suggesting that the property types currently in highest demand are larger, family homes."

Why not follow Kate's Top Five Tips on Buying a New Home!

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 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%
 

Statistic MeasureAug 09Sep 09Oct 09Nov 09
Average new home price£217,058£212,124£214,909£218,160
Monthly % change+2.2%-2.3%+1.3%+1.5%
Three monthly change+0.6%-1.3%+1.2%+0.5%
Annual % change-10.4%-10.2%-7.5%-3.7%

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

Free Property Articles

  January 2010 Nottingham Property News with Kate Faulkner on BBC Radio Nottingham
  Top Five Tips to Buying a New Home in 2010
  What to do if you are a Property Investor in 2010
  What to do if you are a Buyer in 2010
 
NALS Conference Chair 2016

Kate's Consumer Portal

Propertychecklists.co.uk

FREE Buy to Let eBooks

Download a copy of our
Buy to Let Show eBooks
for FREEsimply click on
the image below

Buy to Let Show - download our Buy to Let eBook for FREE