New property prices continue to rise

12 July 2004
The average price of a new property in June was 6.1 per cent higher than last year.

This is according to a new report from SmartNewHomes.com, which reveals the market is still standing strong despite recent predictions for a crash.

The average price is now up to £278,140 - and has increased 5.6 per cent over the last three months.

The chief executive of SmartNewHomes, David Bexon, commented: "This month's index flies in the face of the increasing number of doom reports we have been seeing recently by highlighting the continued high level of consumer demand for new homes."

Other findings include reveal particularly strong in prices for new homes in Yorkshire, Humberside and Scotland.

In contrast, prices of new properties in southern England steadied, with the South West decreasing five per cent and East Anglia down 2.7 per cent over the last month.

Mr Bexon concluded by saying: "The index shows that rather than a crash, what we are going to see is a natural steadying out of prices as the market comes back to reality following the exceptional rises of recent times."