New Homes Market Update May 2009

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New Homes Commentary for May 2009
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It's an interesting development to see a small fall in the new homes market in May, but depending on June's results, this could support my view that the buying/selling market will go quiet again over the summar months July - August and then pick up again in September/October. Just as new homes data was one of the first to stabilise out of buying/selling data, so it appears to be one of the first to show we are heading for a quiet couple of months. However, the short supply of new builds means we are unlikely to be seeing big falls again, just small blips down and back up again by September.

New Homes Data from Smartnewhomes

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