Prices of new build properties have reduced by -7% as price inflation has eased and housing market activity is subdued across the country.
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Category Archives: New-build Homes
The rise in property values for the East of England are leading the market with new-build homes seeing a 32% price increase in the last year.
At the end of December phase two of the Help to Buy scheme is going to be withdrawn by the government after a successful three years.
Figures from the ONS show the growth in houses prices over the year for new builds is more than double that of existing homes.
Many London boroughs continue to see house price growth in double figures although the average rate is slowing.
House prices for new-build properties have risen by 17.9% for the year, double the rate of existing with highest growth in the South East.
There has been a 20% fall in demand for new-build homes and interest in the London housing market due to the EU Referendum.
London’s new Mayor Sadiq Khan has outlined plans to quadruple the number of affordable new-build homes in the capital.
Latest data from the ONS indicates London house price growth is the highest for March for the first time this year.
The ONS have updated their index weighting reducing the average property price in London by £27,000 in February.