16 Feb

People buying new houses for sale in 2010 boost prices

People buying new houses for sale in 2010 boost prices

People that bought new houses for sale in 2010 helped to drive up prices for new houses.

Prices for new properties increased by 7.6 per cent in 2010, according to figures from the Department for Communities and Local Government.

Pre-owned houses for sale saw smaller price growth in comparison to 2009 figures, with an increase of 3.5 per cent.

UK house prices increased by 3.8 per cent overall last year, with an average house price of £208,148.

Wales saw the largest growth in house prices, according to government data.

New homes saw greater price growth due to incentives from homebuilders, according to Ducalian.

The property investment firm say demand was greater across new houses for sale in comparison to pre-owned properties.

Timothy Lambert, head of consulting at the property investment firm, said: "Often they will pay the stamp duty or offer other types of incentive.

"Consequently there was more interest from buyers ... and sometimes lending can be easier on new homes or part rent part buy."ADNFCR-1222-ID-800408889-ADNFCR

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