New builds command premium  

New-build properties remain overwhelmingly popular despite a small drop in the number of starts in the past year. 

New home starts slip 

Work was started on 137,800 new-build homes in England during the 2022/23 financial year to the value of £55bn1, which represents a 1.4% year-on-year decline. 

Generally, a new-build house or flat is counted as a ‘start’ from the moment on-site construction begins. For example, when the foundations are laid for a block of 100 flats, that is counted as 100 ‘starts.’ 

New-build premium skyrockets  

The average new-build house price, meanwhile, rose by 13.8% on an annual basis. 

A separate study by the same business has shown that, with the average new build now valued at £425,186, the premium commanded by new homes currently sits at 52%. This astronomical difference follows a 20% increase in the premium over the course of the last year alone. 

London leads the way 

Regionally, the annual change in the number of new build starts ranges from a 13.4% increase in London to a 14% drop in Yorkshire & Humber. In terms of price growth, the South West (16%) and East Midlands (15.9%) were out in front, with London (9.3%) recording the lowest growth. 

1Sourced Franchise, 2023 

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments 

Contact Us

  • Before you supply any personal details to us via the contact us page on this website please read our customer privacy notice document. This notice sets out how we will process your personal data in line with the General Data Protection Regulations. Once you have read the customer privacy notice.

  • This field is for validation purposes and should be left unchanged.

Monday 8:30am–5:30pm

Tuesday 8:30am–5:30pm

Wednesday 8:30am–5:30pm

Thursday 8:30am–5:30pm

Friday 8:30am–5:30pm

Saturday Closed

Sunday Closed