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Slight fall in new homes prices
There was a slight fall in the price of a new home in March, which could provide more opportunities for first-time buyers.
According to the New Homes Index from smartnewhomes, the average price of a new home fell 0.4 per cent to £218,344 last month, although the company noted that prices could rise over the bank holidays when more buyers are expected to come out of the woodwork.
"With activity levels likely to pick up further as the traditional spring selling season gets underway, there is reason to feel optimistic about the year ahead," commented Steve Lees, director of smartnewhomes.
"Nevertheless, the mortgage market remains a cause for concern in the industry, particularly given that an interest rate rise seems inevitable at some point in the coming months."
However, moneymagpie.com founder Jasmine Birtles noted recently that mortgage-holders on a fixed rate will not be affected by any interest rate rises and suggested that any rise will not happen until at least the summer.
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According to the New Homes Index from smartnewhomes, the average price of a new home fell 0.4 per cent to £218,344 last month, although the company noted that prices could rise over the bank holidays when more buyers are expected to come out of the woodwork.
"With activity levels likely to pick up further as the traditional spring selling season gets underway, there is reason to feel optimistic about the year ahead," commented Steve Lees, director of smartnewhomes.
"Nevertheless, the mortgage market remains a cause for concern in the industry, particularly given that an interest rate rise seems inevitable at some point in the coming months."
However, moneymagpie.com founder Jasmine Birtles noted recently that mortgage-holders on a fixed rate will not be affected by any interest rate rises and suggested that any rise will not happen until at least the summer.
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Published: 19/04/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.