Prices of New Homes in UK remain steady

publication date: Jul 13, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

Prices of New Homes in UK remain steady

May's prices suggest a small rise year on year which Smart New Homes is getting quite excited about, however it's clear that prices are better than last year, but they aren't really moving forward at a pace.

The Marketing Director, Steve Lees suggests that it is mortgage lenders holding back new build prices as they are "undervaluing new homes and setting unreasonable lending criteria". He boldy states "mortgage providers are effectively holding homebuyers to ransom".

It's true that mortgage lenders are probably being somewhat overly cautious, especially when it comes to new build. In theory we'd think the banks understood the property market. For some very odd reason, banks were happy to lend on properties which it was clear to professionals were overvalued prior to the credit crunch and now, when new builds are actually very good value for money they are demanding high deposits (up to 40% for new builds).

READ MORE for all the up to date new property market statistics and regional data.

Are you thinking of buying your first home? Receive your Free First Time Buyer’s Checklist just sign up to our newsletter by emailing

Buy our
First Time Buyer Pack and gain access to Kate and her team via email or phone to help you through every step of your purchase.

Need help with a property problem? Have a question? Why not call Designs on Property on 07585 897128 or Contact Us via email.
Kate's Consumer Portal
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