New build house price rises massively outstrip mainstream market

New build house prices rose 5.1 per cent in the year to the end of August – substantially more than the roughly 3.0 per cent that many indices report for the mainstream market.

The figure for the increase the previous year was no less than 9.8 per cent.

LSL Property Services’ e-surv valuation business -looking at the most recent annual house price change data from Nationwide, HM Land Registry and LSL itself – says the picture for new build homes is clearly “a wave” that has now spread out to the regions from London where prices are now around 60 per cent above the level they were at in 2007.

The adjoining regions of East and South East have seen growth approaching 40 per cent and moving further out the South West, East Midlands and West Midlands have seen growth close to 20 per cent.

The North West and Yorkshire and the Humber are only experiencing house prices that are five to 10 per cent above that seen in the last boom and the most Northerly region, North East is still nearly 10 per cent below the previous peak.

At present, based on the average figures, no region is presently seeing negative price change. The East and West Midlands are the strongest English regions, whilst other regions are either cooling down or showing some slow signs of growth.

Article From: Estate Agent Today

2018-10-09T12:56:11+00:009th October, 2018|