The proportion of new homes sold in England and Wales before being built rose from 35% in 2020 to 37% in 2021, says Hamptons.

Although this is far below the 47% record seen in 2017, it is the first rise seen in this metric since 2016, from which point the trend has been firmly downwards.

And 2021 was the first time since 2007 that terraced homes were more likely to be bought off-plan than flats, Hamptons adds.

It details that in 2020, 41% of terraced homes sold in this way, which jumped to 45% in 2021, and for flats, these respective proportions fell from 50% to 44%.

In 2016, 53% of flats were sold off-plan and, in 2008, 69%.

Hamptons senior analyst David Fell says: “The lack of second-hand homes available to buy has meant that owner-occupiers are increasingly turning to new builds, with more willing to buy off-plan in the face of limited options on the market.

“Typically, these are chain-free homeowners who have more flexibility on moving dates. Despite this, owner-occupiers don’t buy as far in advance as investors who are often happy to wait a year or two, particularly when prices are rising.

“They’re also more likely to seek out bespoke, individually designed houses in smaller schemes, rather than flats in big city centre blocks.

“After nearly four years of falls, the rise in off-plan sales will provide respite for developers looking to maintain sales rates as Help to Buy winds down.”

Fell continues: “Whether this shorter-term shift has the potential to turn into a longer-term trend remains to be seen, but unlike the past, it’s owner-occupiers rather than investors who are likely to continue driving off-plan sales in 2022.”