House prices in the three months to May 2016 were 1.4% higher than in the three months to February 2016, according to the Halifax House Price Index – and 9.2% higher than in the same three months a year earlier.
Martin Ellis, Halifax housing economist, says: “Low interest rates, increasing employment and rising real earnings, continue to support housing demand. The strength of demand, combined with very low supply, is causing house prices to rise at a brisk pace in quarterly and annual terms.
“Increasing affordability issues, caused by a sustained period of higher-than-earnings house price growth, should curb housing demand and result in some slowdown in house price growth as the year progresses.”
Demand in the South West continues to be high. Here we have selected some of the current brand new developments available in the region that offer homes to suit all buyers, including first-time buyers, within a wide range of budgets.
Whittington Park in Longford, Gloucester (Barratt Homes)
Ideal for commuters, with the M5 motorway close by and Gloucester city centre less than two miles away, Whittington Park offers a collection of energy efficient one-, two-, three- and four-bedroom homes to suit a diverse range of buyers. The first residents moved in to Whittington Park this spring, and by 2019 Barratt expects all 190 homes to be completed.
The location is within the catchment area of good schools, and only eight miles from Cheltenham, 12 miles from Stroud, 34 miles from Swindon, and 38 miles from Bristol.
Prices: From £166,995 to £247,995
Find out more about Whittington Park from Barratt Homes
Houndwood in Street, Somerset (Barratt Homes)
This collection of light and spacious contemporary homes in the large village of Street includes two-, three- and four-bedroom options, all interspersed by green, open spaces including a football pitch and an orchard.
Situated within the catchment area of some great schools, just 12 miles from the M5 and 29 miles from Bristol, this is a handy location for families and commuters. Clarks Village, a popular designer outlet shopping village, is right on the development's doorstep – home to more than 90 famous name stores, all of which offer big discounts.
Surrounded by the Somerset levels and in an area that is shrouded in legend, famous Glastonbury is only two miles away, and there are countless places of natural interest such as the Walton and Ivythorn Hills and East Polden Grasslands biological Sites of Special Scientific Interest.
Prices: From £184,995 up to £292,995
Find out more about Houndwood in Street from Barratt Homes
Taylor Wimpey @ Kings Down in Bridgwater, Somerset (Taylor Wimpey)
This new development of contemporary, energy-efficient two-, three- and four-bedroom homes is situated in the Somerset town of Bridgwater. The location is near the A39 and the M5 motorway, offering excellent road connections to key regional destinations such as Bristol (38 miles), Bristol Airport (24 miles) and Bath (43 miles), while the town's station has frequent rail services to Bristol Temple Meads in 50 minutes.
All the essentials you need for day-to-day living are close by, including the town's market and farmers' market, the Angel Place shopping mall, numerous major supermarkets, schools, a swimming pool, an arts centre, a cinema, and many other amenities.
Perched on the edge of the Somerset Levels, Bridgwater is also close to plenty of green, open spaces and coastal resorts with beaches.
Prices: From £193,000 up to £245,000
View more developments from Taylor Wimpey
Cherhill View in Calne, Wiltshire (Redrow Homes)
In the small town of Calne – at the north-western extremity of the North Wessex Downs hill range, a designated Area of Outstanding Natural Beauty – this development from Redrow Homes incorporates a range of three- and four-bedroom family homes.
Situated just four miles from the famous Wessex Downs White Horse, and surrounded by beautiful countryside, Calne is also within easy reach of both Bristol and London.
Cherhill View has a good set of local amenities close by, including both primary and secondary schools, while at the same time offering a tranquil, rural aspect. Commuters have easy access to the main arterial route of the A4, and the development is only 12 miles from J16 of the M4 heading west or J17 to the east. Other nearby towns include Chippenham (six miles), Devizes (eight miles), Swindon (16 miles) and Bristol (30 miles). Trains from Chippenham go direct to Bristol in half an hour and London Paddington in one hour 15 minutes.
Prices: Available homes from £276,995
Find out more aboout Cherhill View from Redrow Homes
Palstone Meadow in South Brent, Devon (Cavanna Homes)
Set in the Dartmoor village of South Brent, near a decent range of local amenities and a primary school, Palstone Meadow is a development of 40 energy-efficient three- and four-bedroom homes.
Enjoying country views, the homes offer superb access to everything on offer within Dartmoor National Park, as well as the coastal resorts of Paignton and Torquay, and the lively city of Plymouth.
The site's Marketing Suite is due to open in early summer 2016, with the first homes expected to be ready to move into by autumn 2016.
Prices: Current price guide £285,000 to £369,950
Find out more about Palstone Meadow from Cavanna Homes
Holland Park Phase 2 in Exeter, Devon (Heritage Homes)
Following on from Heritage's highly-acclaimed, award-winning first phase of Holland Park in Exeter, the house builder has now released phase two of the zero carbon homes development.
This phase includes 26 brand new three- and four-bedroom properties, all built to the same successful standards as phase one - which was awarded the ‘Best Development in the UK’ at the 2014 LABC Warranty Awards. Heritage says that features such as extra-thick insulation, underfloor heating and the latest low energy triple-glazed windows make each home 75% more energy-efficient than other homes currently being built under today’s 2010 Part-L Building Regulation requirements.
Situated in a desirable spot close to the Exeter Golf & Country Club, Holland Park is surrounded by open spaces yet offers superb access to the Cathedral city of Exeter and the M5 motorway. There is a Tesco supermarket nearby; a direct cycle route to Topsham; and a new railway station currently being built just up the road.
Prices: From £275,000 to £795,000
Find out more at www.heritagenewhomes.co.uk or call 01392 822066