New-build houses proving less popular?

Posted: 06 Jun 2011 11:44:17 GMT

Fewer people may be interested in new-build housing than previously thought.

New-build houses may be less attractive to buyers than they were previously, figures suggest.

According to findings from the Office for National Statistics, the total volume of all new construction orders during the first quarter (Q1) of the year dropped by 23 per cent, in comparison with Q4 of 2010.

And the volume of private housing orders at the same time fell by 13 per cent.

Statistics show all sectors witnessed a negative growth in new orders during Q1 of 2011 when compared with the previous quarter, although there was a 16 per cent rise in private orders when matched with the same period of 2010.

The total volume of new construction orders decreased by 18 per cent in the first three months of the year from Q4 of the previous 12-month period, the findings revealed.

A recent report from the Royal Institute of Chartered Surveyors found distressed property levels coming on to the UK market rose during the first quarter of 2011.
 

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