New home prices see autumn lift

The average price of a new home increased by 1.7% in September to £238,849 according to the latest SmartNewHomes New Homes Index.

Commenting on the data, Steven Lees, Director at SmartNewHomes, said: “The new homes market was lifted by renewed buyer demand in September, reversing the price fall seen at the end of the summer. The number of new homes coming onto the market also increased in September, as housebuilders delayed new launches in anticipation of an autumn ‘buyer bounce,’ but supply continues to fall significantly short of that needed.

“The market is now split along longitudinal lines, with the new homes market in the east more buoyant than in the west. London continues to attract domestic and international buyers which is helping to underpin demand for property in the commuter heartlands of the South East and East Anglia. We expect strong price growth to continue over the long term in these regions and the wider market to follow, as the stock shortage becomes more pronounced.”

Source: PropertyTalkLive!

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