Steady new homes market heads confidently into Autumn

Commenting on the data, Steve Lees, Marketing Director said:

“While analysts have been struggling to make sense of a variety of contradictory indicators in the resale market, the new homes sector continued to make steady progress in August. Considering the situation a year ago, the turnaround in the industry has been truly impressive in the face of difficult market conditions, and buyers and developers alike are rightly feeling confident about the year ahead.

“Nevertheless, there are still some difficult issues that continue to affect the industry. Some estimates suggest that plans for over 100,000 new homes have been put on ice since the coalition took power because of confusion over planning policy. However, building more new homes is not only necessary to meet new demand, allowing people to achieve their aspirations of moving up the property ladder, but it is also crucial to the economy, creating thousands of jobs, both directly and across allied industries. The industry is desperate for a coherent and workable policy framework to allow construction to progress, but it appears the wait is set to go on for some time to come.”

August 2010

Average new home price: £219,629

Monthly % change: +0.9%

Three monthly % change: -0.4%

Annual % change: +1.2%

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