LONDON, ENGLAND, October 04, 2012 (Press-News.org) With the launch of the NewBuy scheme for first-time and buyers with existing homes in March 2012 and the extension of the FirstBuy scheme for first-time buyers, it is hoped that a greater volume of buyers will be able to buy new build homes. However, the challenges with obtaining mortgages from bank lenders and also in raising hefty deposits have left the property market stagnant with few buyers.
This has meant that developers have had to drop prices for their new homes for sale in line with market conditions and the lack of house buyers.
The only three areas in the UK with property value increases during September 2011 to August 2012 across detached, semi-detached homes, flats and terrace homes are the South East of England, East Anglia and the West Midlands.
Property prices have decreased in Yorkshire and Humberside, the Greater London area and in the North West and North East of England because of stagnant property markets.
Terraced homes are the most popular type of home with the highest increase in price for terraced houses being in Wales by 9 per cent and Scotland by 16 per cent. The biggest decreases in prices for terraced homes are in Greater London by 8.1 per cent and the North East by 4.6 per cent.
The highest rise in prices for detached houses is in the South East of England, including new homes in Kent and the highest drop in detached house values is in the North East. The highest rise in prices for flats is in the South West of England, including new flats in Bristol and the highest fall in flat values is in the North West. The highest rise in prices for semi-detached homes is in Greater London and the highest fall in prices is in Wales.
Notes to Editors:
What House? is a leading property website that features thousands of new developments across the UK. It also provides the latest property news, valuation of homes and property and mortgage advice. Over the last 31 years, What House? has held their annual What House? Awards, which are the longest established New Homes awards in the UK recognising UK house builders and developers across 21 categories
What House? is a property website portal. For further information go to: http://www.whathouse.co.uk/new-homes.
New Build Index Shows Stable Property Market
The LSL New Build Index powered by e.surve Chartered Surveyors has revealed regional property markets around the UK are settling down in terms of property values with some areas showing a stronger growth in house prices than others.
2012-10-04
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[Press-News.org] New Build Index Shows Stable Property MarketThe LSL New Build Index powered by e.surve Chartered Surveyors has revealed regional property markets around the UK are settling down in terms of property values with some areas showing a stronger growth in house prices than others.