newbuildindex LSL New Build Index – powered by
e.surv Chartered Surveyors
The latest LSL New Build Index, revealed exclusively on award-winning new homes portal
www.whathouse.co.uk, shows the continued strengthening of the new homes market, with year-on-year average prices increasing by 2.75% this month. “In addition the New Build Premium Index,
which compares the average selling rate of a new build property with that of a second- hand property, has increased to 4.1% despite a slight fall last month, possibly due to some year-end discounting,” says James McAuley, director of LSL Land & New Homes. Keith Osborne, editor of
WhatHouse.co.uk, says: “There’s no doubt that for a significant proportion of buyers, the new build premium is worth paying simply because new homes often provide an affordable way into homeownership, particularly if they have the common problem of a small deposit or limited equity in their current home. The very broad qualifying terms of Help to Buy, announced by the government in the last budget, are likely to increase that proportion during the coming year or so, particularly when the second part of the scheme is unveiled at the start of 2014.”
‘The fact that there is now a clear focus on new builds and even greater demand for more affordable housing will no doubt see more development take place’
Osborne adds: “One uncertainty is how
much Help to Buy will do to bridge the north-south divide, with previous government schemes appearing to have had little effect on the performance of some markets in the north.” McAuley concludes: “In terms of the future we can only speculate, but the fact that the government is clearly trying to stimulate the housing market with the introduction of such schemes as Help to Buy is to be praised. We could see some house price inflation as a result, but equally the fact that there is now a clear focus on new builds and even greater demand for more affordable housing will no doubt see more development take place – something we all welcome.”
sh showhouseMay 2013 | 29
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