New Homes Commentary for April 2010

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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.

To date, Greater London has led the new build market, but demand must be slowing as prices are -7.6% YoY and down 12% over the last 3 months. Other poor performing regions include the West Midlands down by a massive 21.2% YoY and 3% down over the last 3 months.

Want to know more about property prices? Need help buying a new build? Call us on 0845 838 1763 or email

New Homes Data from Smartnewhomes

Statistic MeasureFeb 10Mar 10
Average new home price£215,186£216,188
Monthly % change-1.6%+0.5%
Three monthly change-1.4%-2.0%
Annual % change-5.6%-1.8%

Statistic MeasureAug 09Sep 09Oct 09Nov 09Dec 09Jan 10
Average new home price£217,058£212,124£214,909£218,160£220,537£218,575
Monthly % change+2.2%-2.3%+1.3%+1.5%+1.1%-0.9%
Three monthly change+0.6%-1.3%+1.2%+0.5%+4.0%+1.7%
Annual % change-10.4%-10.2%-7.5%-3.7%-2.6%-1.4%

Statistic MeasureFeb 09Mar 09Apr 09May 09Jun 09Jul 09
Average new home price£227,893£220,128£220,955£215,857£214,846£212,440
Monthly % change+2.8%-3.4%+0.4%-2.3%-0.5%-1.1%
Three monthly change+0.6%-2.8%-0.3%-5.3%-2.4%-3.9%
Annual % change-9.6%-13.2%-13.0%-15.3%-13.7%-13.6%

For more market commentary on a national or local level:-
Contact Kate Faulkner on 07974 750562 or 0845 838 1763. To read more about Kate, please visit
ABOUT US, see Kate on video and for media appearances, contact:

Sylvia Tidy-Harris
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Tel  +44 (0) 1530 263221
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Fax: +44 (0) 1530 264018

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