Prices of new builds rise slightly in April

Data has been released from SmartNewHomes that shows that the average price of a new house went up in April by 3.2 percent from last year. It was down, however, by 1.9 percent from March and in the quarter, down by 0.9 percent. There is a lot of regional variation in price but over the whole of the UK a new home costs £16,878 less.

The average price of a new home in Greater London is down 3.5 percent on March, up 3.3 percent for the quarter and up 7.2 percent from last year. In the whole of the South East, the average price is up 0.3 percent on March, up 2.9 percent quarterly and up 1.4 percent annually.

Prices are also rising in East Anglia, the South West, the West Midlands, Scotland and Wales. In East Anglia prices of new homes are up 3.6 percent compared to March, down 0.2 percent quarterly and down 3.6 percent over the year. In the South West prices were up 1.3 percent on March, up 0.5 percent quarterly, but down 8 percent annually.

The West Midlands saw some slow growth with a rise of 0.4 percent for the month, down 4.3 percent quarterly and down 5.9 percent over the year. Wales is also seeing some slow but positive growth with prices of new homes up by 0.7 percent over the month, up 0.4 percent quarterly and up 1.2 percent annually.

Scotland saw some positive growth with monthly prices up 4.9 percent, they were down quarterly by 1.3 percent but up annually by 2.9 percent. The worst performing area for the price of new homes is the North West where average prices were down 0.1 percent over the month, down 4.4 percent quarterly and down 6.1 percent over the year.