Analysis by Alliance Fund, the top to finish actual property fund, has revealed that whereas Higher London could have seen probably the most new-build gross sales full within the final 12 months, it ranks simply twenty fourth within the nation in terms of the extent of new-build market exercise as a proportion of whole properties offered.
Alliance Fund analysed the extent of property transactions to have accomplished throughout every county of England over the past 12 months and what quantity of those got here by way of the brand new properties sector.
The figures present that throughout England as an entire, some 11,608 new properties had been offered in 2022, accounting for two.1% of whole market transactions.
London was residence to by far the best variety of new-build transactions 2022, with the 1,335 new properties offered accounting for 11.5% of all new-build gross sales final 12 months. Higher Manchester (634) and West Yorkshire (565) got here near the may of the London new-build sector, accounting for five.5% and 4.9% of all new properties offered throughout England in 2022.
Two areas of the nation, Rutland and the Metropolis of London, noticed no new-build transactions happen in 2022.
Nevertheless, in terms of new-build market exercise as a proportion of all properties offered, London ranks simply twenty fourth within the nation, with the 1,335 new-build gross sales seen throughout the capital final 12 months equating to only 2.1% of whole market exercise.
It’s, in truth, Warwickshire the place the new-build market has made the most important mark over the past 12 months. Whereas simply 256 new properties had been offered throughout the county in 2022, this equated to three.9% of whole market exercise.
Shropshire follows carefully behind, the place new-build transactions accounted for 3.8% of all properties offered, with Wiltshire (3.7%) and Buckinghamshire (3.4%) additionally rating inside the prime 5.
CEO of Alliance Fund, Iain Crawford mentioned, “London actually stays the dominant drive inside the new-build sector in terms of the sheer quantity of latest properties offered within the final 12 months and with such high-demand, it’s comprehensible why builders dedicate a lot of their consideration to the area.
Nevertheless, there are a excessive variety of areas the place new-build gross sales have pushed market exercise to a far better extent in terms of these transactions as a proportion of all properties offered.
This urge for food for new-build properties presents builders with an abundance of alternative in terms of the place they select to construct, and whereas London will little doubt stay a consideration, it’s actually not the one space of focus.”