21 May

New build prices on the rise in the UK

New build prices on the rise in the UK

The price of newly built homes being sold through developers and estate agents in the UK is on the rise according to new data published by SmartNewHomes.

The company said that the average cost for these types of abode had risen to £236,112 in April of this year as more people look to get on the ladder, a monthly rise of 1.9 per cent.

According to the index, the average price associated with a new house has risen the most in London, where buyers must now pay 6.8 per cent more than a year ago, while those in Yorkshire and the Humber are also seeing good levels of growth at 4.4 per cent.

Part of this rise in April can be attributed to the governmental announcement in the Budget at the end of May that it was to increase the help on offer to movers looking to get up the ladder by giving them access to mortgages for new builds even if they have a small deposit.

Steven Lees, director of SmartNewHomes, said: "It has been a very positive spring for developers. The launch of the Help to Buy scheme has boosted confidence in the new homes market, reflected in positive monthly, quarterly and annual price growth."ADNFCR-1222-ID-801588369-ADNFCR

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