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Posted by Mark Cunningham

Prospective homeowners looking to purchase a new house may have to pay more for such properties than existing dwellings.

That is according to Timothy Lambert, head of consulting at Ducalian, who has said that the average price of a new home has increased at a faster pace than other alternatives on the market due to the fact that developers are offering incentives on their properties.

Figures published earlier this week (February 15th 2011) by the Department for Communities and Local Government revealed that new houses saw an average cost expansion of 7.6 per cent in 2010, a significantly higher figure than the 3.5 per cent recorded by pre-owned homes.

Mr Lambert explained that these differing performances were largely down to organisations offering bonuses such as stamp duty exemption to purchasers.

"Consequently there was more interest from buyers than the traditional market and sometimes lending can be easier on new homes," he added.
 

17/02/2011 14:55