Which areas are new build properties the most popular in?
The North East is the most popular area for transactions involving new builds with a staggering 10.9% of sales occurring here. Coming a close second is the East Midlands which houses 10.7% of new build transactions. The tied second most popular new build area is London which also accounts for 10.7% of new build transactions.
Within London 40% of new build transactions are in the region of Tower Hamlets, a further 28% of new build properties sold are in Greenwich and Hackney.
Other areas (outside London) which see a significant number of new build properties sold are:
- South Derbyshire (27%)
- Vale of white horse (26%)
- Salford (26%)
- Harborough (24%)
- Cherwell (24%)
- Wokingham (24%)
- Bracknell Forest (22%)
James Forester, StripeHomes managing director, said that he ‘couldn’t be happier’ that Newcastle is leading in the numbers of new build properties. He thinks these figures showcase the range of top-quality schemes going on in the North East which caters from students to young professionals.
He also comments that ‘not every region has been so lucky’ and more new builds still need to be made and sold across the UK. This is because there is a high demand for housing in the UK which does not meet availability. More new builds need to be erected to combat this demand.