New homes market on the right track?

Posted: 27 Aug 2010 08:16:28 GMT

The new homes market is on the right track, one expert has claimed.

Managing director of newhomesforsale.co.uk Vernon Pethard said the firm has seen a rise of more than 50 per cent in enquiries regarding new-build properties.

He noted the figure means visitors are serious about wanting to move and are not just window shopping.

"Credit restrictions and austerity measures still play a major part in the recovery, but if our major builders can manage their way through these difficult times, it is to be hoped the government can do an equally good job with the economy," he added.

Mr Pethard's comments follow the release of statistics from Persimmon, which revealed pre-tax profits hit £101.4 million in the first half of this year compared to £9.8 million in 2009.

It also stated the average selling price has swelled by 8.6 per cent and now stands at £168,936, up from £155,524 in the same six month period last year.
 

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