The average price of a new home fell 3.4% last month, according to new homes website Smart New Homes.
The decrease, which followed the monthly increase recorded in February, is the largest monthly price fall recorded. The downturn began in the new homes market in 2007.
It means that the price of new homes has fallen by just over 13% year on year. The average price of a new home now stands at £220,128.
New home prices fall in biggest monthly drop
22 April 2009
Comments
New houses down by 13% over the year - pull the other one!! Builder clients of mine have taken as much as 35% off their prices to get rid of standing stock.