In the year to end February 2017 new build house prices rose on average by 5.3% across the UK which is approaching 2% down on last year’s figure of 7.0%.
Looking at the big picture it appears as if the North is seeing a steady uplift from a low base which will be starting to take prices above the levels last seen in 2007, the year before the market crashed. Over the past nine months there has been a slow uplift from 2 to 3% across the North. The South has generally seen a few years of reasonably strong annual growth at around 6%, but this now seems to be weakening a little, with a slow decline in the growth rate being evident over the past six months.
Shaun Peart, managing director of LSL Land & New Homes comments: “In the year to the end of February 2016 new build prices rose, on average, by 6%, with all regions, apart from the North East, showing price growth in excess of 2%. Six regions have experienced growth of 5% or above and, in line with previous cycles, and with the exception of the North West, the growth is in the South of the country...
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