New Built Homes Performing OK

publication date: Oct 22, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

New Built Homes Performing OK

The new homes market continues to perform 'OK' for now. Especially considering the harsh mortgage environment they are operating in and the 'doom and gloom' from the media.

According to the Smart New Homes Index, the industry has reduced it's volume production by 60%, probably due to the forecasted 'slow down' in the market. On top of this, they claim "Some estimates suggest plans for over 100,000 new homes have been put on ice since the coalition took power because of confusion over planning policy" and "The industry is desperate for a coherent and workable policy framework to allow construction to progress, but it appears the wait is set to go on for some time to come.”

READ MORE for the full New Homes Commentary

Regional New Build House Prices

Regional new build house prices continue to show variation across the UK for property prices. The best performing area continues to be Yorkshire Humber (+12% YOY) which from a market perspective isn't performing brilliantly (See buying/selling update). Other areas that are performing well year on year are the East Midlands (+4.7%) the North (+5.2%).

'Down South' which is currently performing the best of most property markets, Greater London after good rises has fallen back by 6.4% year on year. Scotland, where the main market is performing well is down by 8.8% year on year and the West Midlands by -6.2%.

READ MORE for all the Regional Performances


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