Research by Warwick Estates reveals that new-build home sales have declined by -46% in the past year and, perhaps more strikingly, -39% in the past decade.
In 2020, there were 76,764 new-build sales in Britain, while in 2021, there were just 41,634. This -46% drop is significant but it’s likely a result of pandemic knock-on effects creating issues with labour and building materials, as well as hold-ups caused by the recently introduced External Wall System Fire Review (EWS1) certificate.
In 2011, there were 68,677 sales which means the ten-year decline is-39%.
The biggest regional one-year decline has been seen in Yorkshire & Humber where numbers have declined by -62%, from 5,871 sales in 2020 to 2,236 in 2021. Big drops have also been recorded in the North East (-61%), Wales (-60%), and the East of England (-58%).
The most significant ten-year drop has been recorded in Wales, where sales have fallen by -77% from 3,102 in 2011 to just 725 in 2021. Large declines have also been seen in the North East (-62%), East (-59%), and South West (-58%).
As for where the biggest appetite for new build homes is currently found, Scotland strides ahead of every other region after recording 11,603 new-build sales in 2021 followed by the South East (5,094), London (4,627), and the North west (3,674).