Average price of new build properties rise in Scotland

The House Builders Associations welcomes NewBuy mortgages but warned it could create further barriers for smaller house builders.

New data shows stark regional differences in new-build property prices. The average price of a new-build property fell in London by 21 per cent in the 12 months to July 2011 but average prices in England, Wales and Scotland rose by 1.4 per cent, monthly data from Smartnewhomes has shown. In London a new-build property would now cost £330,637 compared to £220,788 in Scotland, England and Wales.Annual average growth has fallen back from 3.4 per cent in May and June which is indicative of the summer lull in demand for property from buyers during the summer months and housebuilders … [Read more...]

Market Watch: Builders break through property market gloom

home improvements

UPDATES from key players in the housebuilding and insurance sectors will form part of another significant week for corporate results. Two of the UK's biggest housebuilders, Taylor Wimpey and Persimmon, are due to shrug off the gloom surrounding the property market when they report significant increases in profits. Both housebuilders have provided bullish trading updates in recent months and are expected to report strong performances in the second half of 2010 despite the UK government's comprehensive spending review in the autumn, which deterred buyers, and the snow in December, which … [Read more...]

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