New home prices show signs of stabilising
The average price of a new home rose by 0.4% in April 2009, reverting back to the positive monthly growth first recorded in February this year. The level of annual growth remained at -13%, although it has held around this level since the start of 2009, showing continued signs of stabilisation following the progressive downturn seen during 2008.
Commenting on the data, David Bexon, Managing Director of SmartNewHomes.com said:
“There are now clear signs that a floor has been reached for new home prices. I believe it is not simply a spring price bounce that we are currently experiencing, but a correction in price growth.
To read the latest New Homes Index in full click here.
Date Published: 01 May 2009
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