These are Britain’s current new-build hotspots for homebuyers

16th July 2020

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These are Britain’s current new-build hotspots for homebuyers

Over the last year, 12% of all property transactions in Britain have been new-build homes, but in Britain’s new-build homebuyer hotspots they account for as much as 46% of sales. 

Research from property developer, StripeHomes, analysed property transaction figures from the Land Registry to reveal which areas have been home to the highest level of new-build sales as a percentage of all transactions. 

Regionally, the North East, London and the East of England are Britain’s new-build homebuyer hotspots, with 14% of all property transactions accounting for brand new homes. 

However, the London Borough of Tower Hamlets ranks as Britain’s hottest spot for new-build property sales. Over the last year, a massive 46% of transactions in the borough have been new build homes. 

Greenwich is the nation’s second-hottest spot for new-build transactions, with new-build homes accounting for 32% of all sales in the last year. 

East Lothian, Vale of White Horse, Wokingham and South Derbyshire have also seen 30% or more property transactions attributed to the new-build sector. 

Hackney, Harborough, Bracknell Forest and Cherwell also rank within the top 10. 

Gosport has seen the lowest level of new-build transactions as a percentage of all transactions. Just 0.16% of sales in the last year were new-build homes. Blaenau Gwent, Hastings, Portsmouth and the Western Isles also saw less than one per cent of sales attributed to the new-build sector. 

Managing Director of StripeHomes, James Forrester, commented:

“The new-build sector plays an incredibly important role in stimulating the national property market, in terms of both the availability of stock and its positive influence on house price growth. 

Particularly now, buyers are opting for new-build homes due to the fact that no one has resided there previously and so the risk around COVID-19 is far lower. In a much stricter climate, they also provide a more straight forward transaction in terms of actually moving in, and so we expect over the next year at least, new-build sales will grow in prominence. 

This new-build activity will help maintain the current momentum seen since the property market reopened on a longer-term basis. So regions with an above-average level of new-build transactions, such as the North East, London and the East of England, should see a more buoyant market performance despite the wider pandemic when compared to regions such as Yorkshire and the South West.

Number of new-build sales as a percentage of total sales nationally
Location New Build Sales ( 12 Months) Existing Sales ( 12 Months) Total Sales (12 Months) New Build as a % of Total
England 100,129 690,606 790,735 13%
Scotland 12,250 89,531 101,781 12%
Wales 3,449 42,240 45,689 8%
Great Britain 115,828 822,377 938,205 12%
Number of new-build sales as a percentage of total sales regionally
Location New Build Sales ( 12 Months) Existing Sales ( 12 Months) Total Sales (12 Months) New Build as a % of Total
East Midlands 10,002 65,145 75,147 13%
East of England 12,837 80,433 93,270 14%
London 11,464 70,934 82,398 14%
North East 5,447 33,071 38,518 14%
North West 13,598 96,987 110,585 12%
South East 17,323 117,457 134,780 13%
South West 10,457 81,886 92,343 11%
West Midlands Region 9,963 71,259 81,222 12%
Yorkshire and The Humber 9,038 73,434 82,472 11%
Areas with the highest number of new-build sales as a percentage of total sales
Location New Build Sales ( 12 Months) Existing Sales ( 12 Months) Total Sales (12 Months) New Build as a % of Total
Tower Hamlets 1,418 1,692 3,110 46%
Greenwich 1,006 2,144 3,150 32%
East Lothian 746 1,662 2,408 31%
Vale of White Horse 679 1,585 2,264 30%
Wokingham 842 1,997 2,839 30%
South Derbyshire 673 1,598 2,271 30%
Hackney 640 1,607 2,247 28%
Harborough 463 1,176 1,639 28%
Bracknell Forest 640 1,632 2,272 28%
Cherwell 680 1,750 2,430 28%
Rugby 586 1,532 2,118 28%
Newham 531 1,433 1,964 27%
Salford 1,172 3,203 4,375 27%
Central Bedfordshire 1,350 3,774 5,124 26%
Corby 331 938 1,269 26%
Areas with the lowest number of new-build sales as a percentage of total sales
Location New Build Sales ( 12 Months) Existing Sales ( 12 Months) Total Sales (12 Months) New Build as a % of Total
Gosport 2 1,282 1,284 0.16%
Blaenau Gwent 3 893 896 0.33%
Hastings 9 1,468 1,477 0.61%
Portsmouth 23 2,681 2,704 0.85%
Na h-Eileanan Siar 3 331 334 0.90%
Castle Point 16 1,349 1,365 1%
Thanet 34 2,203 2,237 2%
Ceredigion 15 969 984 2%
Brighton and Hove 64 3,569 3,633 2%
Southend-on-Sea 55 2,618 2,673 2%
Wyre Forest 31 1,456 1,487 2%
Rhondda Cynon Taf 79 3,372 3,451 2%
Rossendale 28 1,144 1,172 2%
Worcester 38 1,473 1,511 3%
Woking 33 1,279 1,312 3%

Data sourced from Gov.uk

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