It’s a Good Time to Buy a New Home

Banks and building societies have effectively scrapped the traditional ‘ new homes premium ‘ in their mortgage valuations- that’s the extra price for a square foot of space that buyers were previously willing to pay on the assumption of no repair bills and lower energy bills.

Nobody doubts, either, that the building industry needs a massive boost, having scrapped tens of thousands of jobs. Sales of new homes might struggle to reach 75,000 in 2009, while starts may shrink as low as 60,000. (more…)