New home year-end price freeze
The average price of a new home recorded only a marginal monthly decline in December, falling to £226,409 – down less than 0.05% since November. In December, the decline in new home annual price growth decreased for the first time since March, although prices were down significantly for the year as a whole at -11.6%.
Commenting on the data, David Bexon, Managing Director of SmartNewHomes.com said:
“New home prices levelled off in December, with only a nominal fall recorded from the previous month. The rate of annual price growth recovered slightly from November, but the overall decline in new home prices recorded in 2008 remains significantly high, surpassing -10% for only the second time on our records.
To read the latest New Homes Index click here.
Date Published: 01 January 2009
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