In the year to end November 2019 new build prices per m² rose by an average of 2.85% across the UK...
The New Build Property Market
The LSL Acadata HPI provides detailed analysis of the housing market on a rolling monthly basis. The overall picture for England and Wales is of a relatively static market in terms of house prices. Within England and Wales, Wales continues to be the best performing area with prices up by 2.5% which is slightly above Scotland where the latest figures show a 2.4% year on year increase. Transactions in Scotland are reported to be 4% higher in 2019 than they were in 2018, which is a clear indicator of market activity. In contrast the report finds that the transactions count in England and Wales for the first nine months of 2019, is 4.5% below the comparable period in 2018.
In terms of the English regions, they are all showing modest growth or decline in year on year house price change. The North West performs best with 1.0% growth followed by the North East with 0.6% growth. Yorkshire and the Humber, East Midlands and the South West have between 0.1 and 0.2% growth and the remaining regions have seen price falls between -0.2% and -1.1%. Modest growth in both inflation and real wage growth are now outrunning house price inflation in England which means that house prices in real terms are falling or in this sense, becoming more affordable. Overall the annual index has fallen slightly and is -0.4%.
The report goes on to detail price changes at the level of County and Unitary Authority and within the London Boroughs. Whilst many London boroughs are seeing modest falls, others have seen price falls of over 10% in the past year. Prices in the main conurbations are also tracked, and Leicester and Merseyside are highlighted as performing best...
Continued in the full report - please click below to open...
Click here to read our full report
The North / South divide excluding Greater London can be seen below:
Click here to explore historical house sale prices
Click here for the New Build Index archive
LSL market intelligence indices and reports
