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The final quarter of 2006 saw the average price for a new home surge. While prices across the market as a whole experienced a fall in December, new home prices bucked the trend.
Prices were up 0.1% on the previous month and 2% over the final quarter of 2006, SmartNewHomes.com said in their January New homes index & migration monitor.
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The average price of a new home in the UK in December 2006 was £260,924
- Up 0.1% in the last month (compared with £260,675 in November 2006)
- Up 2.0% in the last three months (compared with £255,787 in September 2006)
- Up 2.0% in the last year (compared with £255,713 in December 2005) |
Semi detached proves home of 2006
While other property types suffered in December, the semi detached retained its popularity, experiencing the biggest price growth over the last year. Despite its increasing price the semi detached home still remained one of the most affordable property types in 2006, beaten in price only be the apartment.
SmartNewHomes.com also records how much home buyers indicate they are willing to pay for a new home. While the price of a new home (stock price) has fluctuated throughout 2006, the price buyers are willing to pay (demand price) had been growing steadily, up 5.8% over the last year - reinforcing continued consumer confidence in the new homes market.
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Price £ |
Monthly % change |
% of houses for sale |
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Detached |
£318,472 |
-1.1% |
23.8% |
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Semi-detached |
£241,502 |
+0.2% |
7.7% |
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Town houses |
£246,193 |
-0.1% |
10.6% |
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Apartments |
£232,366 |
-0.3% |
57.1% |
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Penthouses |
£518,022 |
+10.5% |
0.8% |
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All |
£260,675 |
+0.1 |
100 |
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