Should buyers avoid new builds?
People who do not purchase a new build stand to make the greatest fiscal gains when they move home, one group has asserted.
According to a recent report from lovemoney.com, analysis of Halifax's House Price Index suggests new properties have risen in value more slowly than the average home, increasing in price at only 6.3 per cent a year over the past 26.5 years.
As a result, the group stated that purchasing a new house or staying put for years at a time are likely to be the incorrect strategy if people are looking to make money as they move up the property ladder.
However, those hoping to move to the capital may find that new builds are the only homes which come within their price range.
With this in mind, they may wish to instead look for flats to rent in Hammersmith or another part of the capital while they save.
Commenting on the news, Paul Holmes, chief executive officer at Firstrung, said: "Property is not a game, but a place to live and we all need to remember that."
Written by Chris Price
Published 9th December, 2009
© 2009 Estates IT Limited
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People looking to move up the property ladder have been advised to stay away from new builds by one group, although people without the finances to afford an older house may wish to choose to rent.