Data from the Land Registry has confirmed that of the 78,408 property sales supplied for registration last April, new builds accounted for 11,758, which is a 28.2% increase over the year before.
It would appear that sales of new build homes are on the rise.
According to the LSL New Homes Index, in the year ending April 2018 prices for new build homes went up by an average of 7.6% across the country, surpassing last year’s total of 7.2%.
The latest HMRC figures on British property transactions suggest a possible slowdown when compared to 2017, but projected year-on-year totals for 2017-18 remain at close to 1.2 million, which is where they have averaged for five years now.
The most recent business updates from leading housebuilders confirm that they are continuing to perform well financially. The challenge when it comes to sales of new build homes is how that industry can grow in a level market where second hand housing is the main competition.