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Research by SmartNewHomes.com has shown a second consecutive rise in monthly new home prices, indicating that the market remains robust in some regions of the UK, led by the South East, where prices have increased and sales outstripped all other regions last month.
In April, the South East accounted for 36% of all new homes for sale, boosted largely by a strong resurgence in apartments, along with a continued demand for larger family homes. This was reflected in the strong prices recorded across the region, which increased by 1.9% in a month, and 7.1% for the year from April 2007.
David Bexon, Managing Director of SmartNewHomes.com, said:
“In recent months it has become clear that demand is going through a period of correction. Whereas apartments have been at the forefront of new development for a number of years, detached homes are now performing well, accounting for around quarter of all new homes and with prices up 2.5% in April.
“Apartments still remain a popular home choice in some regions, as indicated by increased demand and strong prices in the South East. However, current issues of oversupply in some northern locations have led to a dip in prices in these areas over the short term. I expect to see a recovery here, and across the board, as homebuyer confidence continues to increase, thanks to a plethora of excellent developer incentives and signs of enhanced mortgage availability now starting to filter through.”
See Also: Press Releases (371)
Date Published: 30 May 2008
