These are the nation's hottest spots for new build property sales
Oxfordshire is currently the nation’s new build homebuyer hotspot according to the latest research from new build experts, BuildScan, the snagging and defect management app.
BuildScan analysed the property market across England over the last year, looking at the number of new build transactions completing in each major city and what this equated to as a percentage of all transactions.
The figures show that there were 542,875 homes sold across England in 2020, despite the tougher market conditions caused by Covid. 36,750 of these came via the new build sector, meaning new homes accounted for 6.8% of all transactions.
With 5,147 new build transactions, London saw the highest number of new build homes sold in terms of sheer volume.
However, it is Oxfordshire that ranks as the hottest spot for new build purchases when considering new build transactions as a percentage of all transactions. 945 new homes were sold in Oxfordshire in 2020, 13.5% of the 6,991 homes sold overall.
Bedfordshire also ranked high, with the 842 new build sales to complete in the area accounting for 12.5% of all transactions in 2020.
Warwickshire (11.2%), East Riding of Yorkshire (10.1%) and Northumberland (10%) also placed amongst some of the hottest spots for new-build homebuyers, with the sector accounting for 10% or more of total homes sold.
Leicestershire (9.9%), Berkshire (9.8%), Wiltshire (8.9%), London and Cambridgeshire (8.7%) also placed within the top 10.
In contrast, the Isle of the Wight saw the least new build homebuyer activity in 2020. Just 1.5% of all transactions on the island came via the new build sector, with East Sussex (3%) and Bristol (3.6%) also amongst the lowest.
Founder and Managing Director of BuildScan, Harry Yates, commented:
“2020 was a tough year and this was no different for those working within the new build sector, with the delivery of many developments delayed due to Covid difficulties.
That said, there was a monumental effort in the final quarter of the year to boost the number of homes reaching the market and we expect this to materialise via an increase in new build completions during 2021.
London continues to see the highest volume of new homes transacting but it’s great to see other regional frontrunners leading the way in terms of new build completions as a percentage of all transactions. This shows that there is a real appetite for these developments across the nation and the focus shouldn’t be solely on building in London.”
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Residential property transactions completed in each region between Jan and Dec 2020 |
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Location |
New Build Transactions |
Existing Transactions |
ALL Transactions |
NB transactions as a % of ALL transactions |
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NORTH EAST |
1,943 |
24,235 |
26,178 |
7.4% |
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EAST OF ENGLAND |
4,660 |
60,730 |
65,390 |
7.1% |
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EAST MIDLANDS |
3,450 |
46,647 |
50,097 |
6.9% |
|
SOUTH EAST |
6,388 |
88,079 |
94,467 |
6.8% |
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NORTH WEST |
4,808 |
69,289 |
74,097 |
6.5% |
|
WEST MIDLANDS |
3,385 |
49,555 |
52,940 |
6.4% |
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SOUTH WEST |
3,785 |
61,419 |
65,204 |
5.8% |
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YORKSHIRE AND THE HUMBER |
3,184 |
52,378 |
55,562 |
5.7% |
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ENGLAND |
36,750 |
506,125 |
542,875 |
6.8% |
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English counties with the highest number of new build transactions as a percentage of all transactions (Jan 202-Dec 2020) |
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Location |
New Build Transactions |
Existing Transactions |
ALL Transactions |
NB transactions as a % of ALL transactions |
|
Oxfordshire |
945 |
6,046 |
6,991 |
13.5% |
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Bedfordshire |
842 |
5,893 |
6,735 |
12.5% |
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Warwickshire |
720 |
5,681 |
6,401 |
11.2% |
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East Riding of Yorkshire |
455 |
4,045 |
4,500 |
10.1% |
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Northumberland |
369 |
3,304 |
3,673 |
10.0% |
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Leicestershire |
807 |
7,338 |
8,145 |
9.9% |
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Berkshire |
818 |
7,549 |
8,367 |
9.8% |
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Wiltshire |
470 |
4,829 |
5,299 |
8.9% |
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Greater London |
5,147 |
53,793 |
58,940 |
8.7% |
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Cambridgeshire |
555 |
5,814 |
6,369 |
8.7% |
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English counties with the lowest number of new build transactions as a percentage of all transactions (Jan 202-Dec 2020) |
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Location |
New Build Transactions |
Existing Transactions |
ALL Transactions |
NB transactions as a % of ALL transactions |
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Isle of Wight |
30 |
1,992 |
2,022 |
1.5% |
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East Sussex |
211 |
6,737 |
6,948 |
3.0% |
|
City of Bristol |
162 |
4,294 |
4,456 |
3.6% |
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Hertfordshire |
439 |
11,189 |
11,628 |
3.8% |
|
Surrey |
560 |
12,280 |
12,840 |
4.4% |
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West Midlands (county) |
981 |
20,469 |
21,450 |
4.6% |
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City of London |
4 |
78 |
82 |
4.9% |
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South Yorkshire |
631 |
12,225 |
12,856 |
4.9% |
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West Yorkshire |
1,152 |
21,730 |
22,882 |
5.0% |
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Dorset |
247 |
4,575 |
4,822 |
5.1% |
