Mike Smuts July 7, 2017 Uncategorized no responses

New housing sales account for 1 in 10 property sales each year but this varies across the country

Outside of London Zoopla analysed data from Hometrack to reveal which areas of Britain have the next highest concentration of new build properties as a share of all property sales.

Key Findings

  • Outside of the London and with new homes accounting for 33.2% of property sales, the fast growing, ex-new town of Milton Keynes has the highest proportion of new builds in Britain.
  • Crewe came in second with 29.6%, which joins Middlesbrough in Teeside as one of only two areas in Northern England to have made it into the top 10
  • Greater London town of Ilford (28.8%) was in third place.
  • The data reveals that areas which have a new build concentration of 25% or more have grown in value on average by 29.7% over the past five years, six per cent above than the national average property price growth rate which stands at 23.6%.
  • Regionally, the research also reveals that the highest concentration of new build homes are found in Southern England (five of the top 10) and The Midlands (three of the top 10), with only Crewe (29.6%) and Middlesbrough (20.3%) representing Northern England at the top of the table. 

Lawrence Hall, spokesperson for Zoopla comments: “New housing sales account for 1 in 10 property sales each year but this varies across the country. These new findings give us a useful overview of where new builds are most common around the country, outside of London. Clearly, areas such as Milton Keynes and Crewe are benefiting from new investment by developers.

While there is a correlation between a large proportion of new builds and higher property price growth, new homes are typically developed in areas of high demand, which has already contributed to a rise in property values.”