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New-build house prices have climbed across every region of Britain, despite the level of transactions coming via the sector seeing a reduction over the last 12 months.

Data has been analysed on new-build property values and transactions over the last 12 months and compared current market health to the previous 12 months.

The data shows that over the last year, the average new-build home has commanded £345,729, 14% higher than the previous year.

National Landlord Investment Show – MPU

This is despite the fact that new-build market activity has dropped by -44% versus over the last 12 months when compared to the 12 months previous, with a total of 42,032 transactions completing across Britain.

Even with this reduction in sales volumes, the sector has still seen a huge £14.1bn worth of homes sold in the last 12 months alone.

There is, however, one area of Britain where transactions have actually climbed.

Scotland has seen new-build transactions climb by 38% year on year and with almost £3bn worth of new homes sold, it’s also the most valuable new-build market, beating London, having seen the total value of homes sold climb by 60% to almost £3bn.

This growing Scottish market strength is also apparent when analysing new-build market performance at city level.

London remains the engine room of Britain’s new-build property market, with 4,744 new homes sold over the last 12 months.

However, when it comes to the year on year change in transaction levels, Glasgow (+45%) and Edinburgh (+38%) are the only two major cities to see new-build sales climb over the last 12 months, with the total market value of these transactions also up 71% and 57% respectively.

Michael Bruce, CEO and Founder of property platform Boomin, the company behind the research, says:

“London remains the predominant force in the new-build market where sheer volume of sales and total market value are concerned when comparing the city’s performance to other major British cities. In fact, it’s fair to say that no other city comes close and this is unlikely to change.

However, Scotland is currently leading the charge both where top line regional performance is concerned and in terms of the annual growth of the new homes sector at city level.

But while the impact of pandemic market complications have finally started to show by way of a reduction in overall market activity, it won’t be long before positive growth returns to all areas of the market now that we’ve seen a return to normality.”

Location Previous 12 months – Feb 2020 to Jan 2021 Last 12 months – Feb 2021 to Jan 2022 Change
NB ave price – Feb 2020 to Jan 2021 NB sales vol – Feb 2020 to Jan 2021 Est NB value – Feb 2020 to Jan 2021 NB ave price – Feb 2021 to Jan 2022 NB sales vol – Feb 2021 to Jan 2022 Est NB value – Feb 2021 to Jan 2022 Change – ave price % Change – NB sales vol % Change – est NB total value
Scotland £217,669 8,461 £1,841,694,303 £253,351 11,663 £2,954,827,864 16% 38% 60%
London £494,068 9,312 £4,600,756,711 £522,334 4,744 £2,477,954,604 6% -49% -46%
South East £381,869 11,472 £4,380,803,064 £431,056 5,246 £2,261,317,497 13% -54% -48%
East of England £366,214 8,137 £2,979,880,934 £415,206 3,462 £1,437,442,880 13% -57% -52%
South West £311,224 6,338 £1,972,539,036 £356,508 3,186 £1,135,836,070 15% -50% -42%
North West £230,608 8,160 £1,881,757,518 £266,364 3,546 £944,526,046 16% -57% -50%
East Midlands £270,739 6,335 £1,715,130,462 £310,987 2,954 £918,654,901 15% -53% -46%
West Midlands region £274,616 6,023 £1,654,012,194 £313,805 2,783 £873,320,600 14% -54% -47%
Yorkshire and the Humber £214,864 5,727 £1,230,523,788 £247,088 2,319 £572,996,560 15% -60% -53%
North East £192,012 3,009 £577,765,266 £220,928 1,262 £278,811,499 15% -58% -52%
Wales £224,407 1,721 £386,203,959 £264,212 867 £229,071,654 18% -50% -41%
England £313,263 64,513 £20,993,168,974 £354,599 29,502 £10,900,860,656 13% -54% -48%
Great Britain £304,127 74,695 £23,221,067,236 £345,729 42,032 £14,084,760,174 14% -44% -39%
Location Previous 12 months – Feb 2020 to Jan 2021 Last 12 months – Feb 2021 to Jan 2022 Change
NB ave price – Feb 2020 to Jan 2021 NB sales vol – Feb 2020 to Jan 2021 Est NB value – Feb 2020 to Jan 2021 NB ave price – Feb 2021 to Jan 2022 NB sales vol – Feb 2021 to Jan 2022 Est NB value – Feb 2021 to Jan 2022 Change – ave price % Change – NB sales vol % Change – est NB total value
Glasgow £192,641 755 £145,444,322 £227,176 1,092 £248,076,693 18% 45% 71%
Edinburgh £322,529 883 £284,792,755 £365,677 1,219 £445,759,683 13% 38% 57%
Bristol £296,495 217 £64,339,316 £325,887 146 £47,579,454 10% -33% -26%
Newcastle £236,787 425 £100,634,685 £266,306 284 £75,630,964 12% -33% -25%
Bradford £184,497 295 £54,426,659 £212,302 160 £33,968,323 15% -46% -38%
Liverpool £195,909 263 £51,523,995 £229,661 140 £32,152,561 17% -47% -38%
London £494,068 9,312 £4,600,756,711 £522,334 4,744 £2,477,954,604 6% -49% -46%
Cardiff £261,546 225 £58,847,911 £297,535 105 £31,241,165 14% -53% -47%
Manchester £217,188 945 £205,242,487 £244,010 410 £100,044,108 12% -57% -51%
Leeds £249,044 798 £198,737,340 £283,223 289 £81,851,406 14% -64% -59%
Birmingham £245,831 944 £232,064,603 £270,030 335 £90,460,011 10% -65% -61%
Sheffield £192,098 466 £89,517,446 £220,393 83 £18,292,585 15% -82% -80%
Swansea £188,635 65 £12,261,253 £219,655 9 £1,976,894 16% -86% -84%
Nottingham £195,192 101 £19,714,413 £217,060 9 £1,953,540 11% -91% -90%
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