How is the new build homes market faring?

publication date: Mar 16, 2010
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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How is the new build homes market faring?


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).

For all the latest headline statistics, new homes data and regional analysis, READ MORE.

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!

Need a new build property question answering or would like more information on the new homes market, then telephone 0845 838 1763 or contact us via email?
  



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