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Buying Early Could Beat The Market - The Independent January 06

Visit any large city in the UK, and it would seem the country is in the grip of a new build property boom.

Housing, including high specification new blocks and conversions of office or industrial buildings are prominent features of inner city regeneration schemes.

This could present an opportunity for the canny buyer. "Everyone knows that new build property is a luxury good offered at a premium" says John Wrigglesworth, who runs the home track house price index.

Prices for new build properties in 2004 were 11.8 per cent higher than in 2003, according to the ODPM figures.

Long term prospects for new build properties look good. Demand for housing is still rising. Developers have also been able to secure interesting sites for new build projects, such as regenerating city centres and riverside plots.

The supply of these sites is finate, so well located developments should out perform the wider market. So should developments near to new infastructure, especially public transport.

A tried and tested way of obtaining a good price is to buy at the earliest stage of a development, if not off plan.