With the introduction of, what the Chancellor claims, is ‘the biggest affordable house building programme since the 1970’s, following his recent Autumn Statement, developers will begin the new year on a high’ with the prospect of even greater new build opportunities to come. And yet, while the news is good for the market, Shaun Peart, Managing Director of LSL Land & New Homes, questions what more could be done to help the market?
“There’s no doubt that the new build market is doing well - as figures from our LSL Land & New Homes Index highlight. Upto the year ending November 2015, for example, there was an average 5.9% increase in new build property prices compared to November 2014 and, whilst slightly down on the 6.7% increase recorded for the period November 2013 to November 2014, it’sclear that London played its part in this with year on year price growth of 16.5% recorded compared to just 8.5% in the last year.
At the moment the three best performing regions of East Anglia, East Midlands and the South East - adjoining Greater London - all show year on year growth of around 2% over last year’s figure and Greater London’s lead position could, as the table shows, soon be taken over by East Anglia....
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