The latest statistics released by the new homes sales progression and aftercare platform, Unlatch, have revealed that the new build housing market in Great Britain is worth almost £3 billion. According to new build sales figures from the Land Registry, 7,591 new homes were sold Across Great Britain between January and May of 2022.
Although the volume of sales was down over this period on an annual basis, higher material costs and rising home prices has seen the overall financial intake increase. Now, with many large housebuilders having set their sights on Q4 for the delivery of some huge developments, the market could be set to expand it’s worth further.
The average price of a new build home is currently £384,424 – making the total market value of new homes around £2.9 billion in 2022 so far. Predictably, London is the most valuable region for new builds with an average sale price of £562,397 with 533 properties being sold so far this year, making the city’s total market value around the £300 million mark. Many locations in Scotland also dominate the list of most valuable new build markets – with Edinburgh seeing an average price £404,811 and a market value of £225 million. Glasgow and Aberdeen are also near the summit of the list, with market values of £93 million and £61 million respectively.