New build prices rise in March

However, the price of apartments has suffered from an oversupply, says the report, and prices have fallen 2.2% in the past three months. Overall, the average price of a new build property rose by 0.6% to £257,430, slightly below the annualised growth rate of 0.7%. Penthouses saw the biggest price rise, up 9.4% to £572,226, followed by semi-detached houses, which gained 2.8% to £239,398. However, the amount buyers are willing to pay for new homes has fallen from £255,000 to £250,000 due to affordability constraints and a lack of competitive mortgages, according to SmartNewHomes.com. ...