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New Homes Index

SmartNewHomes.com publishes a monthly index of the new homes market. View the latest index now.

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New Homes Index - August 2008

New home prices follow market correction

The average price of a new home suffered a
second consecutive fall in July, with a monthly decline of 1.3%. However, the rate at which new home prices are falling slowed in July – compared to the monthly fall of 2.6% in June. At £248,755, the average new home price was 5.1% down on a year ago, as new homes reflect the current correction in house prices.

All property types show price decline in July

For a second month running all property
types recorded a monthly decrease in average price, although the rate of decline has begun to slow in most cases. Town houses recorded the lowest price drop, down 0.7% in July.

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