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New homes prices reach 40-month high

"The average asking price for a new home continued on its upward path in February, reaching its highest level since October 2008. However, asking prices for new homes are less than in the wider market with housebuilders continuing to offer a wide range of deals and incentives to deliver the best possible value to buyers.
“With mortgage finance now improving, the shortage of property is the biggest threat to home ownership in the UK, but the introduction of the NPPF promises a step change in how planning is granted for new developments, meaning many more new homes are expected to be built in areas where they are most needed.”

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