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Revealed: The new-build property hotspots

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30/06/2020
Newly built homes account for 12% of all property transactions across Great Britain, but reached 46% in one London borough last year
Revealed: The new-build property hotspots

The London Borough of Tower Hamlets is Britain’s most popular spot for new-build property sales, said StripeHomes.

The property developer found that, over the last year, a massive 46% of transactions in the borough have been on new-build homes.

Greenwich is the nation’s second-hottest spot for new-build transactions, 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.

The top 10 is completed by Hackney, Harborough, Bracknell Forest and Cherwell.

At a regional level, 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.

This compares to an average of 12% across Great Britain.

Low new-build sales

Gosport has seen the lowest level of new-build transactions as a percentage of all transactions at just 0.16%, closely followed by Blaenau Gwent and Hastings.

Managing director of StripeHomes, James Forrester, said: “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 straightforward transaction in terms of actually moving in, and so we expect over the next year at least, new-build sales will grow in prominence.”

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