28
Feb
London new home market 'sees large rises'
New-built properties in London now cost an average of 21.6 per cent
than they did three months ago, according to new figures released
by SmartNewHomes.com.
In December, a new home in the capital on average stood at
£411,981, a jump of £53,801 from figures released in
October, the firm stated.
Managing director at SmartNewHomes.com David Bexon noted that
demand in the city is still high and the market robust.
"Our index shows that the price of a new home in London has
increased dramatically over the last three month period proving
that this area remains competitive and is developing a strong
resilience," he commented.
He added that most other regions recorded price falls in the same
time period and that London is in "a market of its own".
This year, property prices are set to remain level, the chief
executive of Barratt Developments Mark Clare recently stated. He
added that more interest rate cuts are needed if the situation is
to change.