Why new homes are an outstanding option for buyers
Despite the tough economic times, hundreds of thousands of Britons will still be buying and moving home in the next 12 months.
According to David Pretty, Chairman of the New Homes Marketing Board, those who buy new build homes will be getting the better deal.
He says the difficulties faced by the housing market over the last two years have resulted in lower prices which have improved affordability, directly favouring those in a position to buy.
"We have been through tough times and it's not over yet, but it is too easy to be over-gloomy" he said. "The market is still moving and house builders are keenly pricing their new homes to sell and offering a wide range of help with moving costs and other incentives. This represents a great opportunity for the British homebuying public."
Launching New Homes Month, which showcases the range, value and quality of new homes across the country throughout September, Mr Pretty said the house building industry had always offered buyers far more than the second-hand property market.
"As well as the fact that new homes are packed with lots more extra features than most older properties, the economic downturn has brought new home prices in line with the second-hand market, so there is no 'brand new' premium any more" he said. "Buying new is better value now than it has been for years, and more people are realising that."
He added: "We know British people are as wedded to the idea of home ownership as ever, with our own YouGov surveys over the last three years showing that almost nine out of ten adults believe that buying their own home is a sensible investment in their future. The case for buying new homes - which are built to the latest energy-efficient 'green' standards and come with outstanding help and customer service at record levels - is now very compelling."
Mr Pretty warned that, despite economic uncertainties, the underlying trend in the housing market was of massive undersupply, with new households forming at the rate of 250,000 every year and more people joining the queue to buy or rent. He said: "Even before the current downturn, housing production was well below previous decades and nowhere near enough to meet this growing backlog - a backlog which will approach 1million by the end of 2010" he said. "When the recovery picks up, this will inevitably put upward pressure on prices.
"While it is important that people make the right choices and do not overstretch themselves, this factor is another very sound reason to buy new - and buy now. What's more, when you buy new, you don't just get great quality and outstanding service, you're supporting a vital British industry."
Mr Pretty emphasised the crucial importance of a healthy house building industry to our national, regional and local economies. "While no one wants a return to an overheated market, housing is one of the key elements of the British economy, producing tens of thousands of new homes for sale, for rent and for special needs occupation each and every year, often in partnership with local authorities, housing associations and other public bodies. With house building contributing 1.5% of GDP, conservatively estimated at £20 billion - its importance cannot be overstated" he said.
"The housing industry is one of our major employers. So when you buy new, you have the added satisfaction of helping to maintain hundreds of thousands of jobs in the industry and the many business, large and small, which supply and depend upon it. Every new home built creates 1.5 full time jobs, which even at today's historically low levels of building equates to around 180,000 jobs - plus several times that number in the supply chain, impacting companies of all sizes."
New Homes Month runs from September 4 to October 3 and builds on the success of last year's New Homes Week, which gave the house building industry a significant boost in the wake of the global credit crisis.
New homes for sale on homes24.co.uk