“It has been a very positive spring for developers. As well as increasing numbers of new homes coming to market and stable prices, the threat of an imminent interest rate rise has receded and the budget offered the strongest indication yet that the government has recognised the importance of supporting housebuilding.
“The mortgage market remains the overriding limiting factor holding back the market. Housebuilders have innovated as best they can to overcome the stranglehold, for example by introducing new shared equity schemes, but the market will not be able to operate normally until the deadlock amongst lenders is overcome.”
Average new home price: £219,766
Monthly % change: +0.7%
Three monthly % change: +1.8%
Annual % change: -0.2%
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