New homes prices on the up

Those hoping for the cost of new homes to continue dropping may have been disappointed to hear that the average price of such dwellings has now started increasing again.

According to the Smartnewhomes.com, the average price of a new build home rose by 0.6 per cent in March, the first rise since December 2007, IFAonline.co.uk reported.

Managing director of the firm David Bexon said that only apartments fell in price, being down by 0.5 per cent, as other types of home became increasingly popular.

He observed that the building of apartments was down two per cent on 12 months ago, with a corresponding rise in family home building.

The news may prompt those looking to get a newly built home at the lowest possible price to consider the self build method.

A survey by the Home Builders' Federation revealed this week that 20 per cent of people living in new homes were not satisfied with the state of it on the day they moved in.


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