New housing developments continue to spring up across the country, but certain cities are definitely leading the way while others are lagging behind.
Analysis by online estate agents Sell House Fast, assessing the latest data released from the Ministry of Housing, Communities and Local Government, has revealed an increase in new-build sales over the past 12 months and the locations offering the biggest number of new homes for buyers in England.
The research identified that by the end of last year, the rise in available new-build stock had achieved year-on-year growth of 16%, with 163,250 newly completed homes across England. Government initiatives implemented with the aim of assisting first-time buyers and young families to move, such as Help to Buy, have helped to boost sales, and Zoopla data indicates that the sale of new homes between April 2017 and April 2018 increased by 28.2%.
Where are the top locations for new-builds?
Unsurprisingly, London continues to top the new-build leader board, having seen 8,522 new properties completed over the past year to April. In the south, Surrey and Hampshire each reached a new homes tally of 1,132 and 964 respectively.
In the north-west, Merseyside and Greater Manchester were well matched, with new-build properties totalling 1,978 in Merseyside and 1,280 in Greater Manchester. Areas producing the lowest number of new dwellings attributed just 23 to Durham and 24 to the Isle of Wight and interestingly, despite its property “hotspot” status, Bristol managed just 144 newly completed properties.
Homebuyer priorities
Robby Du Toit, managing director of Sell House Fast, said: “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.”
