New report reveals higher house prices

13th July, 2005

The average price of a new home has risen by 1.9 per cent in the last month, according to a new report.

This brings the cost of an average new-build home up to £261,512, SmartNewHomes revealed today.

The news comes as a reminder to homeowners to ensure that they have adequate home insurance, as their investment increases in value.

With the latest reports showing home insurance to be cheaper than ever, it is progressively important that buyers protect their homes and contents, especially as their worth increases.

David Bexon, chief executive of SmartNewHomes said that we are now witnessing the official confirmations of a return to positive house price growth.

He also predicted a positive future for homeowners watching the value of their properties increase.

"Declines in both customer spending and manufacturing output make a move to a 4.5 per cent base rate likely in August. Such a move will be welcomed by the housing market and is likely to act as a catalyst increasing activity and prices across the board," he predicted.

 

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