The nation’s new-build property hotspots

The latest research by property developer, StripeHomes, has revealed where has been the nation’s new-build property hotspots over the last year.  ...

StripeHomes analysed property transaction data over the last 12 months to find which areas were home to the largest number of new-build sales as a percentage of all property transactions.

 

Nationally and Regionally

The figures show that in England, just 9.8% of sales were new-build properties. However, the North East is the current new-build hotspot when it comes to all regions of England and Wales with 10.9% of all transactions occurring within the new-build sector.

 

Local Authority Level

At local authority level, London accounts for the top three new-build property hotspots. In Tower Hamlets, 40% of all transactions in the last year were new-builds, while in Hackney and Greenwich the sector accounted for 28% of all properties sold.

Outside of London, South Derbyshire (27%), Vale of White Horse (26%), Salford (26%), Harborough (24%) Cherwell (24%), Wokingham (24%) and Bracknell Forest (22%) were also home to a large percentage of new-build sales.

Newham (22%), Knowsley (22%), Rugby (21%), North West Leicestershire (21%) and Dartford (20%) also ranked within the top 10.

Top Local Authorities in Each Region of England and Wales
  • North East (10.9%): Middlesbrough (17%), Northumberland (16%), Stockton-on-Tees (14%)
  • East Midlands (10.7%): South Derbyshire (27%), Harborough (24%), North West Leicestershire (21%).
  • London (10.7%): Tower Hamlets (40%), Hackney (28%), Greenwich (28%).
  • West Midlands (10%): Rugby (21%), Wychavon (19%), Tamworth (18%).
  • East of England (9.7%): Central Bedfordshire (20%), South Norfolk (19%), Peterborough (18%).
  • South East (9.3%): Vale of White Horse (26%), Cherwell (24%), Wokingham (24%).
  • North West (9%): Salford (26%), Knowsley (22%), Ribble Valley (18%).
  • South West (9%): Tewkesbury (16%), North Devon (16%), Bath and North East Somerset (15%).
  • Yorkshire and the Humber (8.8%): Selby (17%), Ryedale (16%), Wakefield (14%).
  • Wales (5.4%): Vale of Glamorgan (17%), Torfaen (12%), Monmouthshire (11%).

 

Managing Director of StripeHomes, James Forrester, commented:

“As a Newcastle-based company, we couldn’t be prouder to see the North East leading the nation in terms of the highest proportion of new-build homes sold.

This is a real testament to the great work going on in the region when it comes to delivering top quality schemes to a range of market segments, from students to young professionals, and even second and third rung buyers.

Of course, not every region or even every local authority has benefitted from such a high level of new-build homes. In fact, you could argue we need more across the board, as current levels are still woefully inadequate given the demand we’re facing for housing in England and Wales.

Hopefully, the latest changes to planning reforms announced by the Government this month should go some way in addressing this.

For far too long, the big developers have been allowed to drip feed stock as and when it suits, keeping their profit margins favourable to the detriment of UK homebuyers.

Increasing competition within the sector and allowing smaller developers a foot in the door should help ensure this is no longer the case going forward. However, as always, it remains to be seen to what extent the Government will deliver on its promises.”

 

Region
New-build sales as % of all transactions
North East
10.9%
East Midlands
10.7%
London
10.7%
West Midlands
10.0%
East of England
9.7%
South East
9.3%
North West
9.0%
South West
9.0%
Yorkshire and the Humber
8.8%
Wales
5.4%
England
9.8%

 

Local Authorities with the highest percentage of new-build sales in England and Wales
Local Authority
New-build sales as % of all transactions
TOWER HAMLETS
40%
HACKNEY
28%
GREENWICH
28%
SOUTH DERBYSHIRE
27%
VALE OF WHITE HORSE
26%
SALFORD
26%
HARBOROUGH
24%
CHERWELL
24%
WOKINGHAM
24%
BRACKNELL FOREST
22%
NEWHAM
22%
KNOWSLEY
22%
RUGBY
21%
NORTH WEST LEICESTERSHIRE
21%
DARTFORD
20%

 

For more information visit: stripehomes.co.uk

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