Positive Price Growth Shows Summer Strength Of New Homes Market !!

Date Published 28 August 2012

The average price of a new home in July was £235,579. This is up 1.4% since June and 3.8% in the last three months.

Commenting on the data, Steven Lees, Director of SmartNewHomes, said:

`Housebuilders have enjoyed an unseasonal strength in buyer demand at the start of the summer not seen for five years. Although supply is increasing, it still falls far short of demand and this is contributing to the 1.4% rise in prices.

`The Government has recognised that the new homes market can play an important part in pulling the UK out of recession and has unveiled plans that include public funding for new development and relaxing social housing requirements to stimulate construction that should make a further contribution towards the 3 million new homes it wants built by 2020. However, mortgage availability remains the linchpin for the industry and will ultimately determine the role housebuilders can play.`