According to Paul Farrow of the Telegraph new build house prices began to fall in 2006 and not 2007. He give an example of a home in East Anglia that was valued at £246,995 in April 2006 and is worth £225,000 today. A reasonable fall of 9pc according to the Nationwide House Price Index calculator. He argues that this online tools does not differentiate between a new-build and older homes. In reality the home would be worth as little as £120,000, if it were a new build.
Don’t let this put you off your self-build project! It’ll come as a surprise to most people that building your own home can often work out cheaper than buying one that’s already built. Not to mention the ability to truly add your own flair to your new home. Check online for great prices on available land for sale here in the UK.