Property

Demand growing for new-build homes available through buying schemes

Property Reporter
|
14th September 2021
New Build 900

Across the UK, there are currently 51,282 new-build properties listed for sale. With 18,095 already sold, demand currently sits at 35.3%. Newly released research from Warwick Estates, has revealed which features are currently the most in-demand amongst new-build homebuyers in the current market.

The firm analysed current new-build stock listed on the market and which features offered across these properties were most in demand based on the number of homes already under offer or sold subject to contract as a percentage of all available stock.

Most in-demand new-build property type

Despite pandemic lockdown restrictions causing heightened demand for detached homes offering more space, the research by Warwick Estates shows that it’s terraced homes that are currently most in demand.

45.5% of all terraced home new-builds have already gone under offer or sold subject to contract, with the second most in-demand new-build property type being semi-detached (44.7%).

Most sought after property features

When studying the most in-demand property features for new-build buyers in the UK, Warwick Estates has discovered that affiliated buying schemes are what buyers want most. 42% of new-build homes providing the additional help of a buying scheme have already been snapped up across the UK market.

Parking spaces are also in high demand. 39.6% of new-builds offering this feature have already been sold, with garden space also remaining popular with demand at 37.2%.

Bethan Griffiths, COO of Warwick Estates, commented: “New-build homes remain a popular choice amongst many homebuyers and it’s not just flats that are proving popular, with the sector also satisfying the pandemic uplift in demand for larger homes.

"Of course, a new-build home naturally carries a price premium when compared to existing housing stock and, with the stamp duty holiday causing a house price boom, it’s no surprise that demand is high for homes offering the additional help of a buying scheme.

"Above and beyond this financial incentive, buyers continue to value homes with garden space having spent months in lockdown, as well as the more traditional feature of a parking space.”

Related articles
More from Property
Latest from Financial Reporter
Latest from Commercial Reporter
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.