New homes market sees strong start to year

The average price of a new home in January was £232,022, compared to £229,571 at the end of last year according to the latest SmartNewHomes Index.

This represents an increase of 1.1% over the month.

Commenting on the data, Steven Lees, Director of SmartNewHomes, said: “The housebuilding industry has had a positive start to 2013, with pent up buyer demand for new homes at the end of last year underpinning price growth in January. Confidence in the new homes market is also exhibited in strong annual price growth of 1.4% recorded last month.

“However, the issue of supply remains the biggest issue facing the industry. Although there were more new homes available to January buyers than the same time last year 2012’s total output was 11% down on the previous year according to the latest figures from the DCLG.

“We hope the Government follows through on its promise to cut red tape and ensure that changes to speed up planning decisions are pushed through regionally, translating into an increase in housebuilding levels.”

Source: Propertytalk Live!
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