29 Apr

New build house prices up by 12% in 5 years

New build house prices up by 12% in 5 years

New build house prices have risen by 12 per cent over the past five years, according to new research.

Analysis from Halifax showed that the average price now agreed through estate agents is £233,822, which is nine per cent higher than the average cost of a home in the UK for all properties.

Craig McKinlay, new mortgages director for Halifax, said: "In a relatively flat housing market, the new homes market has changed enormously over the past five years. We have seen a lot of positive sentiment towards the new homes market, with various schemes launched to get the house building industry moving."

He added that changes in policies and deposit requirements, which allow shared equity to buyers to invest, have also helped people to invest in new build property.

Halifax also revealed that the north-south divide still exists for new houses, with more than half of UK regions seeing the average price fall, while the north experienced the greatest decline of ten per cent.ADNFCR-1222-ID-801578259-ADNFCR

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