
Highest New Build UK Price Rises
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
|
£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%
|