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Revealed: The nation’s new-build hotspots

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26/09/2019
Where are buyers snapping up newly built homes and are enough being built?
Revealed: The nation’s new-build hotspots

Tower Hamlets in London is the new-build capital of England and Wales, with 42% of all transactions there accounted for by new-build properties, according to Stone Real Estate.

The new home specialist analysed hundreds of thousands of transactions from the Land Registry to see where is home to the highest number of new homes sold as a percentage of all sales.

Across England and Wales, 11% of sales already this year have been attributed to new build properties, climbing to 13% within London.

The Vale of White Horse, between Swindon and Oxford, is in second place, with 32% of all sales attributable to new build in 2019 to date.

Greenwich ranks third with 30%, while Basingstoke and Deane has seen 29% of all transactions attributed to new builds.

The top 10 new build hotspots list is completed by South Derbyshire (29%), Slough (29%), Harborough (27%), Rugby (27%), Harrow (25%) and Southwark (25%).

At the other end of the scale, the area with the lowest percentage of new builds is Gosport, with just 0.2% of sales.

CEO of Stone Real Estate, Michael Stone, said: “As a nation, we’re in desperate need of more housing stock and while the Government’s delivery of this has been inadequate at best, it’s good to see that there are pockets across the nation where new build properties are hitting the market and being snapped up by buyers.

“Help to Buy has played a big part in fueling this demand and over the last six years, we’ve seen the new build sector perform consistently as a result, despite the wider doom and gloom of the UK property market.

“However, more must be done to incentivise the big housebuilders to continue delivering these homes as in some areas, the level of new build stock is almost non-existent.”

Read more about property development finance across England and Wales

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