Deals to be had as prices fall in July
THE average price of a new home fell by two per cent in July, extending the first price fall of 2011 in June. Positive growth, however, was recorded on a three-month and annual basis, up 0.5 per cent and 1.4 per cent respectively.
Commenting on the data, Steve Lees, director of SmartNewHomes, says: “As predicted, buyers have opted to delay the hunt for a new home until the autumn, with housebuilders pricing competitively in order to sustain momentum in a quieter market.
“There are some excellent deals to be had, especially for those buyers who start their search now. We expect buyer activity to resume in September, especially as the government’s new shared equity scheme launches.”