Date Published 24 July 2012
The average price of a new home in June was £232,292. This is down 1.2% since May but up 0.4% in the second quarter of the year.
Commenting on the data, Steven Lees, Director of SmartNewHomes, said:
`The new homes market performed strongly in the first half of the year, with the average price of a new home up £3,383 since January. However, a new home remains more affordable for buyers than a property in the wider market which has seen nothing short of runaway pricing as asking prices in the wider market have increased by £18,792 more than a new home over the same period. Housebuilders remain acutely aware of restricted finance and continue to call for greater mortgage availability.
`Housebuilders’ realistic approach to pricing makes a brand new home a more affordable option alongside the many incentives available. New home buyers stand to benefit from long term savings because of their increased energy efficiency and low maintenance costs and this will continue to drive demand for new homes in the second half of the year.`