New Build Housing Market experiences a 'price spurt'!

publication date: Jun 7, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

New Build Housing Market experiences a 'price spurt'!

Prices for new build properties had a bit of a 'spurt' in March from February, bucking the downward trend that seemed to be forming.  

Simon Bexon from Smart New Homes summarised March's results:

"A subtle shift in the property market is now occurring with the traditional emphasis on 'location, location, location,' now seeming slightly less important, with buyers increasingly prepared to compromise on their preferred area in order to secure a brand new home."

Kate Faulkner, property expert comments "People compromising on what they buy is likely to be driven by new build buyers seeing prices moving upwards versus last year and stock disappearing as the shortage of new build properties hits the market".  

Regional Performance
Having seen a drop in prices in many areas across the UK over the last few months, there are some areas that are still posting price rises. These include the South West which is +9.7% YoY and +7.6% over the last 3 months. and Scotland +3.1% YoY and +1.8% over the last 3 months.

For all the up to date new homes data and market analysis read Kate's New Homes Commentary.

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