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Smart New Homes sees the housing market stabilising

New data released by SmartNewHomes, the homes website, shows the average price of a new property in August was £277,445 up by 1.8 per cent over the last month.

The figures suggest the seasonal slowdown is drawing to a close and confidence is returning to the market. The price homebuyers are willing to pay has increased by 1.5 per cent over the last month, and 6.9 per cent over the year. This is the highest rate of annual growth demand since the end of 2003.

London is still in demand with homebuyers willing to pay 7 per cent above marker prices for a new property. But house prices in London, the south east and east Anglia all dropped by one per cent from the previous month.

SmartNewHomes chief executive David Bexon says: “As we expected, this month&#39s index shows that the new homes market is not crashing into oblivion, but stabilising itself. With supply and demand prices more in line, both new homebuyers and developers should expect a healthy market going forward.”


Genesis adds affiliate status

Genesis has extended its franchise and license proposition to include affiliate status for smaller networks. As an affiliate, a smaller network can continue to manage a network of brokers, whilst receiving regulatory support from Genesis. The scheme is designed to appeal to small networks who do not have the financial resources or compliance to support […]

Menu master Smee quits Aifa

Aifa&#39s first director general Paul Smee has resigned from his position after five years in the job. Smee will stay with Aifa until December when he is joining the Association for Payment Clearing Services as its chief executive. Aifa will be advertising for a new director general immediately. The formation of Aifa came after a […]

ABI seeks firm to monitor funds

The ABI is putting out tenders for impartial information for the monitoring of investment classifications for life and pensions funds. It has been using Lipper fund information but the contract is due to come to an end and a new three-year deal has been put out to tender. Hundreds of IFA firms use the ABI […]

New Star&#39s global fund eyes China and Russia

New Star manager Paul Craig says its global portfolio fund will target econ-omic progress in China, India and Russia in the next 12 months. Craig took over management of the fund one year ago and it has since risen by 13.92 per cent compared with an average rise of 4.79 per cent in the IMA […]


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