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Highest New Build UK Price Rises

Property News, Statistics and Reports

New-build house prices in the East of England have surged by 34% to £373,829 in the past five years, the latest research by property developer StripeHomes has revealed.

The East Midlands and West Midlands also saw the price of new-builds rise by 33% and 31% respectively – highlighting how the asset class has performed well despite talk of how buyers need to pay a ‘new-build premium’.

The North East was the region home to the lowest new-build growth, although prices have still increased by 16%. The region has been one of the most talked-about areas for buy-to-let investors in recent years. Yet, while regional new-build growth has been lower than others, pockets of the region such as North Tyneside (22%), South Tyneside (21%) and Hartlepool (21%) have performed particularly well.

London has seen the second-lowest rate of new-build house price growth in the last five years, although again, prices are still up 22%.

While the East of England is the regional leader for new-build performance, on a more local level prices are surging across different regions across the UK.

Corby in Northamptonshire, Salford in Greater Manchester, Thurrock in Essex, and Newport in Wales all saw new-build prices rise by 44% in five years – highlighting how new-build property has performed well across much of the nation.

Even in London, where new-build growth has been subdued, some areas still recorded strong appreciation. Indeed, in Newham new-builds have surged in price by 40% in five years, followed by Barking and Dagenham at 39%, as well as Redbridge at 38%.

If this performance continues, new-build will serve to be a solid investment choice for homeowners and investors in the years to come.

Managing Director of StripeHomes, James Forrester, commented:

“When it comes to investing in bricks and mortar, the new-build sector remains one of the best in terms of a consistent return through buoyant house price growth.

In the past five years, almost every area of the UK has seen new-build prices increase despite the impact of drawn-out political uncertainty caused by Brexit and multiple general elections.

As a result, the sector remains popular amongst both new-build investors and developers, as well as residential homebuyers.”

Location
NB House Price (2015)
NB House Price (2020)
Change (%)
East of England
£278,790
£373,829
34%
East Midlands
£202,724
£270,033
33%
West Midlands Region
£211,871
£278,370
31%
Wales
£173,075
£227,230
31%
South West
£241,845
£312,555
29%
North West
£178,808
£230,820
29%
Yorkshire and The Humber
£168,130
£215,081
28%
South East
£303,275
£386,747
28%
London
£413,077
£511,689
24%
Scotland
£178,138
£217,692
22%
North East
£166,067
£192,125
16%
England
£246,519
£316,668
28%
Great Britain
£238,592
£307,138
29%
Top 20 areas for the biggest change in new-build house prices in the last five years
Location
NB House Price (2015)
NB House Price (2020)
Change (%)
Corby
£182,421
£263,584
44%
Salford
£145,363
£209,988
44%
Thurrock
£251,874
£363,720
44%
Newport
£176,948
£254,656
44%
East Northamptonshire
£224,562
£322,191
43%
Basildon
£271,434
£389,037
43%
Na h-Eileanan Siar
£120,413
£172,502
43%
Wellingborough
£200,437
£286,223
43%
Kettering
£206,639
£294,118
42%
Manchester
£150,773
£214,513
42%
Folkestone and Hythe
£232,141
£330,202
42%
Hastings
£176,434
£250,405
42%
Glasgow
£134,293
£190,299
42%
Leicester
£181,016
£256,266
42%
Thanet
£224,843
£318,217
42%
Maldon
£267,639
£378,711
42%
Blaby
£231,324
£327,112
41%
Rochford
£443,559
£625,325
41%
Southend-on-Sea
£231,181
£325,509
41%
Sandwell
£158,574
£222,614
40%
Change in the average new-build house price across each London borough in the last five years
Location
NB House Price (2015)
NB House Price (2020)
Change (%)
Newham
£358,167
£500,706
40%
Barking and Dagenham
£285,936
£398,191
39%
Redbridge
£408,469
£564,458
38%
Bexley
£253,766
£338,367
33%
Havering
£303,722
£401,202
32%
Croydon
£277,067
£363,845
31%
Waltham Forest
£357,760
£469,757
31%
Greenwich
£323,253
£424,281
31%
Enfield
£295,389
£377,485
28%
Hounslow
£299,715
£382,360
28%
Hackney
£496,244
£630,332
27%
Lambeth
£445,756
£564,596
27%
Haringey
£411,642
£513,701
25%
Lewisham
£327,009
£406,450
24%
Hillingdon
£358,289
£444,642
24%
Sutton
£322,604
£399,924
24%
Merton
£486,694
£590,953
21%
Bromley
£381,529
£460,454
21%
Tower Hamlets
£410,590
£495,392
21%
Harrow
£346,134
£413,166
19%
Kingston upon Thames
£442,981
£519,307
17%
Ealing
£401,418
£470,068
17%
Southwark
£438,578
£512,324
17%
Richmond upon Thames
£484,611
£556,907
15%
Barnet
£470,067
£538,221
14%
Wandsworth
£547,423
£623,925
14%
Brent
£400,633
£454,766
14%
Camden
£736,483
£832,500
13%
City of London
£802,366
£886,887
11%
Islington
£580,046
£636,617
10%
City of Westminster
£1,027,599
£1,125,763
10%
Kensington and Chelsea
£1,086,472
£1,166,683
7%
Hammersmith and Fulham
£664,279
£700,977
6%

 

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