Twitter Facebook RSS FEEDS

New homes buck market trend

Wednesday, 19 December 2007 12:00 AM

Prices for new-build properties have continued to increase as 2007 draws to a close.

According to new research from SmartNewHomes.com, which markets new build properties in the UK, average prices for new-build properties increased 0.6 per cent in the final quarter of 2007.

Encouragingly for the market, November saw some of the biggest increases, with prices up 0.8 per cent over the month.

This, coupled with December's interest rate cut, indicates prices for new homes are set to remain buoyant in early 2008, according to SmartNewHomes.

"The recent cut in interest rates and the steady growth in new home prices recorded this month is good news for homeowners across the country," said David Bexon, managing director of SmartNewHomes.

"While city bonuses may take a knock this year, something which is likely to be reflected in a reduced demand for top end properties including new, luxury penthouse apartments, I am confident the market will recover from this and any current turbulence."

Apartments continue to constitute the largest proportion of new-build properties, making up 57 per cent of the market.

The figure is up two per cent, at the expense of detached homes, suggesting a continued pressure on developers to focus on density, while simultaneously trying to provide the family homes the nation requires.

This type of property also saw some of the largest increases in prices, up by an average of 3.9 per cent during November - belying rumours of oversupply in the sector.

Popular regions to buy new-build properties during 2007 have included the south-east, where prices have increased 6.8 per cent, and the south-west, up 11.2 per cent.

Also, with the recent announcement the 2014 Commonwealth games will be held in Glasgow, Scotland's popularity looks set to continue over the next few years.

The signs are also largely positive for the market as a whole, according to SmartNewHomes.

"I would expect to see new home prices rise steadily throughout 2008, finishing with annual price growth in the region of two to three per cent," concluded Mr Bexon.

Related stories

Kensington leads the way for £1m-plus bracket.

Property millionaires buck house price trend

Two-tier market sees average prices fall three per cent but 27 new property millionaires per day.

House prices continued to fall across the country, though at the slowest rate since June 2010.

More homes on the market in time for new year

New sales instructions rise for third month in a row but some sellers have unrealistic price expectations, says RICS.

The government has launched numerous schemes aimed at encouraging first-time buyers.

New homes market set for growth despite gloom

Demand from first-time buyers, government schemes and planning changes will support market, says new homes website.

New home on UK street

Positive outlook for new homes market in 2011

Next year looks promising, but those buying a new-build property will still be hampered by difficult mortgage criteria.
Planning reforms will deliver desperately needed new homes not concrete over countryside, says government. Image: Thinkstock

Government challenges new homes ‘myths’

Document challenges claims by campaigners that planning reforms will be a developer’s charter.

 Persimmon figures cheer new homes industry

New homes market 'on the right track'

Persimmon's house building results are good news for the new homes industry.
RIBA says property buyers are denied space in cramped new build homes. Image: Thinkstock

Architects attack ‘shoe box’ new homes

RIBA says property buyers are denied space in cramped new build homes.

 Properties with for sale signs

Market stagnant as most homes not selling

Seven out of ten houses put up for sale since the start of the year are still on the market, according to new figures released today.
Wasteland near Basingstoke

HCA to release land for 3,000 new homes

The Homes and Communities Agency is to release land later onto the open market to allow development of around 3,000 homes.

 London has bucked the trend of falling house prices

London bucks trend of falling house prices

Northern Ireland sees the biggest fall in house prices in the year to September, says DCLG index.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Beds Direct

Beds Direct Logo
Whether you've just moved into a property and need to furnish it or just fancy having something new to sleep on, Beds Direct offer you a wide array of beds to order online or via the telephone.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Propertywide

Propertywide Logo
Propertywide.co.uk is Countrywide plc's dedicated property website. Created to provide online access to all our estate agency, lettings and property related services, Propertywide.co.uk has been designed with the consumer at heart.

The 21st Century Radiator Company

The 21st Century Radiator Company Logo
Welcome to 21st Century Radiator Company. We supply a stunning range of traditional reproduction high quality cast-iron radiators and cast-iron baths. All our cast-iron radiators and cast-iron baths are brand new, fully tested and guaranteed for ten years.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

Why increasing amounts of people are opting for house shares

London is an expensive place to live, however, house shares offer you the opportunity to enjoy the hustle and bustle of the capital for a fraction of the price you would pay to live on your own, making them a cost-effective way forward.

Why sliding door wardrobes are the best choice for small spaces

When bedroom space is at a premium, you need to be creative with the furniture you invest in. In terms of the wardrobe, you may want to consider those with sliding doors, as they are the most practical in small bedrooms thanks to the doors.

The durability of mahogany furniture is ideal for the office

For office-based businesses it is vital to invest in high-quality furniture that is both practical and comfortable to use. While there are many products to choose from, the benefits on hand with items made from mahogany mean it is an option you should be certain to consider.