The latest research from Warwick Estates, has revealed where the new-build sector made the biggest impact on the property market in 2021 based on transaction levels and the total value of new homes sold.
The research shows that to date, 8,714 new homes were sold across England and Wales in 2021, accounting for 1.8% of total market activity. The combined value of these new-build sales currently totals just shy of £3.4bn, 2% of the total value of homes sold across the entire market.
London remains the biggest new-build market in the nation where transactions are concerned. So far, 1,469 new homes have been sold across the capital in 2021 totalling 2.8% of all homes sold.
The East Midlands also ranks high where new-build transaction volumes are concerned, with new homes accounting for 2.3% of market activity, followed by the South East (1.9%), the South West (1.8%) and the North West (1.7%).
Wales has seen the lowest level of new-build market activity, with the sector accounting for just 1.2% of total homes sold in 2021.
When it comes to market value, London also ranks top with a huge £935m worth of new-build property sold in 2021 – 2.6% of the total market value across the capital.
The East Midlands has also seen new homes account for 2.6% of total market value, followed by the North East (2.5%), the North West (2%0 and the South East (1.9%).
The East of England has seen one the lowest values of total transactions come via the new-build market. While £327.1m worth of new homes have been sold in 2021, this equates to just 1.5% of total market value.
The £74.25m worth of new homes sold in Wales in 2021 also accounts for just 1.5% of total market value.
New-build transaction levels and total sold values sourced from the Gov.uk – Price Paid data records of residential property transactions. Jan 2021 to October 2021 (latest available), excluding properties listed by type as ‘other’.