Almost a quarter of new-build homes for sale came to market in the last month, according to research from UK Property Development (UKPD).
The development firm found that 23.5% of all new-build properties currently listed for sale across England have come to market in the past 30 days, ahead of the Autumn Budget and the expected fleshing out of the Government’s Your First Home scheme.
The research analysed current Zoopla new-build property listings across England, assessing the proportion of available properties listed in the past 30 days in each region. It also examined the regional distribution of recent additions to the market, identifying where newly listed new-build homes are most concentrated.*
The South East has seen the highest proportion of its current new-build stock listed in the past 30 days, at 26%.
The East of England follows at 25.7%, with the South West close behind at 24.6%. The East Midlands also sits above the England average, with recent listings accounting for 24.1% of available new-build properties.
This is followed by the West Midlands (23.5%), North West (23.1%), and Yorkshire & Humber (21.7%). Meanwhile, the North East recorded a proportion of 21.6%, followed by London, where 20.1% of current new-build listings have been added in the past 30 days.
However, the picture changes when looking at the regional distribution of recent additions rather than the proportion of each region’s current listings that are new to the market.
The South East accounts for the largest share of new-build properties listed across England in the past 30 days, representing 19% of all recent additions.
The East of England accounts for a further 15.8%, followed by London at 15.3%. The North West represents 11.1%, while the South West accounts for 10.6%. The East Midlands contributes 9.2% and the West Midlands 8.1%.
Meanwhile, Yorkshire & Humber represents 6.1% of all recent new-build listings, and the North East accounts for 4.7%.
UKPD director Andy Morrison said: “Any new initiative designed to help first-time buyers purchase a new-build home needs to be considered alongside the availability of properties on the ground. Financial support can be an important part of helping people onto the property ladder, but buyers also need homes that are available in the locations where they want to live.
“Our research highlights vast differences in recent new-build additions across the country. These differences matter when considering how a national policy could translate into opportunities for buyers in individual markets.”