propertytalk Live! - New homes market proves resilient despite uncertainty

propertytalk Live! - New homes market proves resilient despite uncertainty

The average price of a new home stood at £219,172 in February, up +1.6% on the previous month.

Values continue to fluctuate on a month-by month basis, but nervous homebuyers should be reassured by the medium-term average, which has stayed steady at approximately £217,500.

This is according to the latest data from the SmartNewHomes monthly New Homes Index.

Steve Lees, Director said:

"The increase in the average price of a new home in February will come as a surprise to the hawks that have been warning of a weakening in consumer sentiment and justifies the guarded optimism of many in the industry. Public policy has caused the rate of development to lag behind consumer demand for many years now, so while the economic outlook remains uncertain, there remains a significant level of pent-up demand in the market, which should help to support sales.