New-build market share continues to grow

New research has revealed that across Britain as a whole, some 87,345 homes have made it to market in the last 14 days, with new-builds accounting for around 8% of them. However, when looking new-build market share regionally or on a city level, this figure rises quite considerably.

Related topics:  Property,  New Build,  Housing Market
Property | Reporter
10th March 2023
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"In some areas of Britain, new homes are fuelling the funnel of supply quite considerably"

Research by Alliance Fund, the end-to-end real estate fund, has revealed that the new-build sector is currently fueling 8% of all housing stock reaching the market across Britain, climbing to as high as 25% in some areas of the nation.

Alliance Fund analysed current market stock to have been listed for sale across Britain over the last two weeks, looking at what percentage of these properties have been delivered via the new homes sector.

Regional Look

Scotland has seen the highest level of new for-sale stock come via the new home sector, with 12.8% of all new listings being new-builds.

In Yorkshire and the Humber and the East Midlands, new homes account for 9.3% and 9.2% of all respective homes reaching the market, with the new-build sector also fueling a considerable level of housing market stock across the North West (8.6%) and East of England (8.5%).

In contrast, Wales has seen the smallest proportion of new housing stock come via the new-build sector, with new-build properties accounting for just 3.9% of all new listings reaching the market.

City Level

In Liverpool, new-build properties account for as much as a quarter of all new homes made available to homebuyers over the last fortnight, with Glasgow (14.2%), Newcastle (13.3%), Manchester (10.8%) and Edinburgh (10.5%) also seeing more than one in 10 new homes listed for sale being delivered by new-build developers.

Of all cities analysed by Alliance Fund, Cardiff has seen the lowest level of recent for-sale stock come via the new homes hopper, with the sector accounting for just 3% of homes listed for sale over the last two weeks.

Iain Crawford, CEO of Alliance Fund, commented: “Much like the wider housing market, the new-build industry certainly paused for thought following last September's mini-budget, as the future health of the property sector was called into question.

"However, with stability returning and buyers continuing to act, albeit somewhat more tentatively, the outlook for the year ahead is considerably more positive this side of the new year.

"As a result, many developers have chosen to proceed as planned, confident that now is the time to deliver their current portfolio of stock to the market and in some areas of Britain, new homes are fuelling the funnel of supply quite considerably.”

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