Average price of a new home is now £229,571

The average price of a new home in December 2012 was £229,571, according to the latest figures from SmartNewHomes.

Seven out of the 11 regions in Britain recorded annual price growth in 2012, with Greater London seeing the largest annual price rise of 6.1%. This was closely followed by the commuter belt regions of the South East where prices were up 5%. Prices in the North West fell 4.7% over the year. Specific cities’ figures include:

Edinburgh – £277,980

Newcastle – £265,101

Leeds - £239,862

Cardiff – £236,995

Brighton – £204,582

Exeter – £301,421

Liverpool – £152,675

Steven Lees, Director of SmartNewHomes, said: “Strong and sustained demand for new homes, particularly from first time buyers eager to take advantage of the shared equity schemes available from housebuilders and the Government, meant that prices fluctuated by only £10,000 across the year. This compares to £22,000 in the wider market. Growth in the number of new homes coming to market for buyers is a positive marker in a year that saw the Government announce countless new measures to get Britain building. We will see during the year ahead whether this talk translates into new homes for many thousands of potential buyers.”

For more on property prices see Monday’s blog post House prices hold up best in cities.

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• natly

  First time buyers are not “eager” to only be able to buy part of a house; these schemes are their only chance of getting out of the rental market. The fact that a young couple with a good jobs can only afford to buy part of a tiny new build is nothing but a very sad sign of the times.

• angryoxford

  @natly A sentiment echoed by many hard working singles and couples, see comment 2. http://www.oxfordtimes.co.uk/archive/2012/11/23/Editorial+Comment+%28om_edcomment%29/10067063.COMMENT__Developments_are_the_only_answer_to_housing_crisis/.

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