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New research has revealed how the new-build market looks based on the diversity of stock currently available to buyers and how this differs across our major cities.

The new-build sales optimisation platform, Unlatch, analysed the level of new-build stock currently on the market before dissecting it by property type both at national level and across 20 major cities.

When we think new-build, we tend to think flats, so it’s hardly surprising that they account for the largest proportion of British new-build stock in the current market.

Propp – MPU

41% of total stock to be exact, although the pandemic influence for larger homes is also clear, with detached homes accounting for 28% of new-build stock.

Semi-detached and terraced homes account for 15% and 10% of available new-build stock respectively, while bungalows are the rarest new-build property type accounting for just 6% of available properties.

Stock differences across major cities

However, the DNA of the new-build market can differ depending on where in the nation you’re looking and certain property types are far more prevalent in some cities compared to others.

For example, the new-build market in major urban hubs such as London (94%), Manchester (90%) and Birmingham (84%) is almost completely dominated by flats with the property type accounting for almost all new-build homes on the market.

In contrast, flats account for just 5% of the market in Sunderland, with Newcastle (8.3%) and Swansea also seeing flats account for less than 10% of the total new-build stock.

In fact, in Swansea (64%), Sunderland (55%) and Newcastle (54%), more than half of all new-build properties available to purchase are detached homes – the highest level of detached new-builds of all cities analysed.

Sunderland (24%) and Newcastle (22%) also rank in the top three where the highest level of semi-detached new-build stock is concerned, although at 27% Portsmouth has the largest availability of this property type.

Portsmouth also ranks top for terraced new-build stock levels at 27%, with Bristol (26%) and Bradford (23%) this time making the top three.

Finally, Bungalows may not be the first thing that springs to mind when you think about new-builds and in many major cities, you’d be forgiven as there isn’t a single new-build bungalow on the market.

However, in Swansea, they account for 9% of all new-build stock currently on the market, with Bournemouth (7%) and Leicester (5%) also home to some of the highest levels of new-build bungalow availability.

Lee Martin, Head of UK for Unlatch says:

“The creation of any new-build developments will always focus on a number of factors including lifestyle, available space and of course profit margins.

This is a fine balancing act but more often than not flats, detached and semi-detached homes will be the flavour of choice.

In many built-up major cities where space is tight, flats tend to dominate as building upwards rather than outwards allows more homes to be delivered to market.

But the sector is far from a one-trick pony and, in other markets such as Swansea and Bournemouth for example, there is a far more diverse range of stock to suit the different buyer demographics within the market.”

Location Detached NB stock % Semi-detached NB stock % Terraced NB stock % Flat NB stock % Bugalow NB stock %
London 1% 1% 4% 94% 0.1%
Manchester 1% 5% 5% 90% 0.1%
Birmingham 3% 6% 7% 84% 0%
Liverpool 8% 7% 3% 82% 0.5%
Leeds 6% 8% 10% 75% 0.6%
Edinburgh 13% 4% 9% 74% 0%
Bournemouth 3% 7% 9% 73% 7.4%
Southampton 14% 12% 6% 67% 1.8%
Glasgow 20% 8% 15% 57% 0%
Bristol 9% 8% 26% 56% 0.7%
Plymouth 16% 15% 16% 52% 1.5%
Sheffield 18% 18% 14% 48% 1.9%
Cardiff 29% 16% 16% 39% 0%
Nottingham 32% 13% 19% 32% 4.0%
Portsmouth 18% 27% 27% 27% 0%
Bradford 40% 17% 23% 21% 0%
Leicester 45% 18% 20% 11% 5.3%
Swansea 64% 14% 5% 9% 9.1%
Newcastle 54% 22% 15% 8% 0%
Sunderland 55% 24% 16% 5% 0%
Great Britain 28% 15% 10% 41% 6%

New-build stock levels based on an average taken from the major property portals including Rightmove, Zoopla, OntheMarket and Boomin – January 12th 2022.

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