"Rising borrowing costs, affordability pressures, and the uncertainty surrounding government housing policy ahead of the Autumn Statement have all combined to make purchasers more cautious"
- Sian Metcalfe - Property Inspect
Fewer than one in five new homes across Great Britain have secured a buyer, according to the latest market analysis from Property Inspect, with demand for new-build properties falling both quarterly and annually.
Property Inspect reviewed current market listings to identify which new-build properties were marked as sold subject to contract, revealing how buyer appetite has shifted over recent months.
The research found that in Q3, only 17.7% of new-build homes listed for sale had found a buyer. This represents a 0.5% decline compared with the previous quarter and a 1.1% drop year on year.
Some regions recorded particularly weak demand. Newcastle had just 4.5% of new-build stock sold, closely followed by Liverpool at 4.8%, Aberdeen at 6.0%, Swansea at 6.4%, and Leeds at 9.3%.
Quarterly changes also highlight notable falls in certain cities. Portsmouth saw the sharpest decline with demand down 6.3%, Glasgow fell 2.7%, Newcastle by 2.0%, and Edinburgh by 1.5%. London experienced a smaller drop of 0.5%.
Despite these trends, some markets continue to show resilience. Southampton led the way, with 40.3% of new-builds already under offer. Sheffield followed at 33.1%, Bournemouth at 22.6%, Bristol at 21.8%, and Portsmouth at 21.7% despite its recent quarterly decline.
Sheffield recorded the strongest quarterly growth, up 12.5%, while Bournemouth climbed 7.7%, Plymouth 6.1%, Swansea 5.3%, and Southampton 5.0%.
“Buyer demand for new-build homes has undoubtedly cooled in recent months, with fewer than one in five finding a buyer," comments Sián Hemming-Metcalfe, operations director at Property Inspect. "Rising borrowing costs, affordability pressures, and the uncertainty surrounding government housing policy ahead of the Autumn Statement have all combined to make purchasers more cautious. With new-builds commanding a strong premium versus regular housing stock, it stands to reason that the new homes sector will be more vulnerable to these market influences.”
“However, the picture isn’t entirely negative," she added, "Cities such as Sheffield and Southampton demonstrate that appetite for quality new-build stock remains strong when the right product is delivered." This underlines that consistency, compliance and condition are more important than ever."
"At Property Inspect, we’re helping developers and agents meet these expectations with smarter inspection and reporting tools that ensure new homes come to market at the highest standard, helping to bolster buyer confidence even in more cautious times.”
