Sequence Land & New Homes sold 700 homes in the last month, the most for a year and this trend is carrying on into February.According to Halifax, house prices in January 2009 went up by 1.9%, this was agreed by Right Move 1.2%, the Royal institute of Chartered surveyors claim house prices will rise over the next few months.
Housebuilders will have sold all existing stock by the latest June 2009 (this is supported by David Pretty of the New Homes Marketing Board).
Housebuilders will now be building 3-5 bedroom homes for the Family Market.
Vogue Interiors who supply all of Taylor Wimpey's 22 divisions have been inundated to set up new show homes for new sites. This means for all the suppliers that there will be an increase in orders from bricks right through to kitchens.
The New Homes Mortgage Shop who specialise in mortgages for the new home market said there has been an increase in mortgage approvals for this sector.
The price of a detached family home has risen, according to the latest government figures, bucking the national downward trend in house prices.
The cost of an average detached house rose by 4.9 per cent between December 2008 and January 2009, pushing up average prices by 0.2 per cent for the month.
For week commencing 23rd February 2009 the number of planning applications showed a big rise. A rise in mortgage approvals by the major banks for the third month in a row has brought some cheer to the housing market. The British Bankers' Association (BBA) said that there were 28,179 mortgages approved for house purchases in February, up from 24,278 in January.
Information supplied by Globespan Media
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