New build prices rise by 5%

New build prices rise by 5%

The LSL New Build Index indicates new build house prices rose an average of 5.5% across the UK – unchanged from last year’s growth.

The latest market indicator for new builds, released by LSL Land & New Homes, has reported that the price of new homes rose 5.5% in the year end to July 2017. Removing London from the equation the average house price growth was 4.3%.

Regionally, Greater London continued to see the highest growth at 8%, whilst the South East and East Midlands also reported above average growth, both at 6.9%. The slowest growing region was the North East at 0.6%.

However, the report urged a note of cautioning indicating that, “the gradual decline in household incomes and general economic uncertainty seem to be creating a cautious environment. Even the prospect of continuing low interest rates is not generating buyer activity at anything like the levels seen in the run up to the market crash a decade since.”

The full report – which includes a full regional breakdown – is available here.

Related posts