The cost of new-build homes is set to rise by an average of £7,000 from next spring, when government energy efficiency regulations are due to come into force.
The Home Builders Federation (HBF) said that a plan to bring all new homes up to the Government’s standards by April 2010 would lead to a rise in prices for buyers in new developments. The HBF has estimated that this will add about £7,000 to a typical new-build, which costs £157,934 at present, according to Nationwide.
Further cost pressures will follow, since the Government plans to bring all new homes up to even higher standards of energy efficiency. By 2016, £30,000 will be added to the cost of a new home, the HBF said.
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