19 Dec

Price of new-builds continues to rise

Price of new-builds continues to rise

The market value of new build homes is still on the up, despite signs of slowing growth for other types of housing, new research has shown.

According to figure from SmartNewHomes.com, the average price of a new-build property rose by 0.6 per cent during the period.

November was a particularly strong month for price growth, with a rise of 0.8 per cent recorded.

David Bexton, managing director at SmartNewHomes, said that these findings coupled with December's interest rate cut spelled good news for the new build market next year.

He said: "The recent cut in interest rates and the steady growth in new home prices recorded this month is good news for homeowners across the country.

"While city bonuses may take a knock this year, something which is likely to be reflected in a reduced demand for top end properties including new, luxury penthouse apartments, I am confident the market will recover from this and any current turbulence."

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