More Good News for Self Builders

Posted on January 22, 2011 by Builder Bob There have been 0 comments

NAEA Survey Results

The New Year seems to have got off to a buoyant start.  According to a National Association of Estate Agents (NAEA) survey, its members indicate that the level enquiries from buyers and sellers across the UK is ‘surging’.

Mike Jones, president of the NAEA takes this as an indication that confidence in the housing market is returning.  Housing, it seems has been given a ‘jump start’ into 2011.

House Prices Rising

While in itself this is good news, the Department for Communities and Local Government’s latest UK house statistics, based on November 2010 figures and released last week, show that:-

  • House prices in the UK increased in November by 4.0% over the year, despite being a seasonally adjusted -0.1% lower over the month.
  • Mix adjusted, but not seasonally adjusted,  the average house price across the UK was £208,585
  • The quarter to November saw house prices average 0.6% lower as against an increase of 0.9% seasonally adjusted for August
  • Over the year, average prices in England increased during the year by 4.7% and 3% in Wales , although they were -11.3% in Northern Ireland and -2.4% lower in Scotland
  • First time buyers paid on average 2.4% more than a year earlier, but house movers paid an increase of 4.6%.

Encouragement for Self Builders

The most encouraging news for Self Builders is that, on average, new property prices were up a whopping 8.9% over the year. This means the good times are coming back for anyone who has land with planning permission ready to build their own ‘Dream Home’. 

Act Before Costs Rise

Although costs of materials have risen over the last couple of years, most building firms and component suppliers have done their best to contain and absorb these.  However, this is unlikely to continue for much longer.  With mortgage lenders likely to favour Self Build loans because of the extra equity security that they can offer, anyone contemplating a Self Build House could do a lot worse than to start their project sooner, rather than later.  

Cost of Timber Kit Homes

With increased timber costs on the way, Self Builders who have opted to use the increasingly popular and cost effective timber fame method of building, it would be a good idea to place their timber house kit order as soon as possible in order to secure their manufacturing slot and, if possible, lock in a firm price with a reputable company like Simply Self Build before this happens.

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