THE weather may been hot, but the new homes market has been experiencing a cooler summer.
With the usual holidays lull taking its toll, new home prices were down 1.6 per cent in July, from £258,581 to £254,374.
The new homes market had been experiencing positive growth in 2006 with prices in the first quarter consistently up on last year.
However, the summer months always put pressure on prices as the weather and holidays distract potential buyers from looking for a new home.
Prices are expected to pick up again in the last quarter of the year.
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