Over the past two months, the South East has accounted for most new homes being marketed in the UK (27% in May), and the high demand has been matched by steady monthly price rises. However, London led the way for new home price rises in May, up 7.5% on April and up 9.5% annually since May 2007.
Apartments were the strongest performing property type in May across the country, making up over 53% of all new homes for sale and recording their first monthly price increase for 2008 (up 0.9% since April).
David Bexon, managing director of SmartNewHomes.com, said: “There are still people out there looking for a new home and developers have been working hard to entice and assist these buyers in today’s market.
“The performance of apartments in May should come as positive news to the market generally, as these homes have presented one of the biggest challenges for developers in recent months. They remain the most frequently sold homes across many regions, and continued demand coupled with a correction in supply in key areas of the country has seen prices begin to rise this month.”
