A glut of apartments on the market is having an adverse effect on house prices, according to online property portal SmartNewHomes.com. The portal’s comments are based on figures which show that of the new homes currently available in the UK, over half (54.7%) are apartments compared to less than a third (30%) of detached homes. Three years ago apartments formed just 33% of new home stock, and detached homes dominated at 48%. At the same time, apartments have seen the sharpest drop in prices in the last two years. David Bexon, md of SmartNewHomes.com, said: “These figures make it clear that there is currently a surplus of apartments on the market and this is having a negative effect on average prices. The shape of the new homes market has changed drastically over the last few years as a result of the government’s limitations on homebuilders’ activity. “With limited greenfield sites made available for development and tight constraints on housing density, homebuilders have been forced to adjust their mix of property types but demand has not shifted in the same way. Homebuyers still prefer detached and semi-detached properties for family and starter homes but there is distinct shortage of these on …