Figures from the Ministry of Housing, Communities & Local Government show that there were 163,250 new build dwelling completions in England, in the year ending December 2017; representing a 16% increase from the previous year.
With this in mind, online housing agents Sellhousefast.uk sought to investigate the rate at which new build properties are selling. Using data extracted from Zoopla’s ‘New homes for sale’ search tool, they counted the number of flats and houses listed for sale, as part of larger new build developments per county in England in May 2018.
Sell House Fast, also wanted to compare figures for the capital as well which have been included in the research.
Which areas in England have the most and least new build flats and houses for sale?
Sellhousefast.uk revealed the following areas had the highest count of individual new build properties for sale: London (8,552), Merseyside (1,978), Greater Manchester (1,280), Surrey (1,132) and Hampshire (964).
And on the other end of the new build spectrum,they found the following areas to have the least number of individual new build properties for sale: Bristol (144), Herefordshire (93), Rutland (53), Isle of Wight (24) and Durham (23).
Outside of the capital, there is a huge difference between the area with the highest number of new build flats/and or houses for sale and the area with the lowest number of individual properties listed for sale – with Merseyside offering more than 1,950 new build properties than Durham.
Robby Du Toit, managing director of Sellhousefast, comments “While older properties have their charm, there are plenty of reasons people choose to buy new builds. New build properties are increasing in popularity due to a competitive off-plan price, and governmental Help to Buy initiatives, making it a more prosperous and modern appeal to young individuals and couples who are looking to get onto the property ladder. One of the most popular reasons new build properties are attractive is due to the minimal work prospective buyers need to do. And should issues arise, new builds are typically covered for a few years which means you do not have to pay for any work that needs to be carried out. As well as this, homeowners can expect lower energy bills and running costs if the property is built to the correct standards. Lastly, most new build properties come with a 10-year NHBS warranty”.
