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BuyingBear

New House Prices Continue To Fall - West Midlands - 10.5% Fall

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New house prices continue to fall

New house prices in the West Midlands, London, the South-West and the North last month saw some of the worst falls in the country, it emerged yesterday.

Figures from new homes website SmartNewHomes.com showed that the average price of a new home was £255,327, a fall of 0.2 per cent on September and down 2.4 per cent compared with October, 2004.

In the West Midlands the average price of a new home was £242,028, a fall of one per cent over September and 10.5 per cent compared with October last year.

Edited by BuyingBear

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New homes sales are effectively forced sales.

This is where the falls will be seen first. Although not necessarily in LR figures.

Next area will be newish homes bought 4 - 5 years ago. Try selling one of these when a brand new home just around the corner is cheaper.

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New homes sales are effectively forced sales.

This is where the falls will be seen first. Although not necessarily in LR figures.

Indeed, and new build prices have fallen despite all the incentives designed to mask the figures, take those out of the mix and what sort of percentage fall is it in reality?

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New homes sales are effectively forced sales.

This is where the falls will be seen first. Although not necessarily in LR figures.

Next area will be newish homes bought 4 - 5 years ago. Try selling one of these when a brand new home just around the corner is cheaper.

Two very good points. The CEO's of the developers will be under pressure to get sales up again, given the drop in their share values just lately.

It is all gradually moving into crash mode :)

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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