Scotland dominates British new-build market

Scotland dominates British new-build market


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Scotland is set to continue its domination over Britain’s new-build market, research by Warwick Estates claims, with the total number of annual sales once again dwarfing those of any other region in 2022.

In 2021, there were 54,788 new-build sales transactions in Great Britain.

Scotland was, by far, home to the largest proportion of sales with a total of 11,677. The next closest region was England’s South East with 7,335 sales.

Power of the Scots

Warwick can now reveal that Scotland is once again on track to dominate the market this year.

It appears that of an estimated 16,158 new-build sales in Britain in 2022, 10,914 will be in Scotland already with the next closest region, the South East, trailing far behind with 1,191 sales.

Scotland’s strong performance comes despite a forecast annual new-build decline of -70.5% across Britain as a whole in 2022.

In fact, Scotland’s annual decline of -6.5% is nothing compared to the rest of the British regions where annual declines have exceeded -80%.

Battle for new-build

When looking back over the last five years of new-build sales data, interestingly, Scotland slips into second place behind the South East.

Of 473,630 new-build sales in Britain since 2017, there have been 70,060 in the South East, which is an average of 14,012 per year.

In Scotland, there have been 56,669 – an average of 11,334 a year – and in London, there have been 53,957 sales which works out at 10,791 a year.

The worst performing new-build market over the past five years is Wales, which is home to just 13,721 – or 2,744 a year, followed by the North East where 21,357 sales equate to an average of 4,271 a year.

Table shows annual new-build sales in Britain in 2-17, 2019, 2021, and 2022, alongside the 1, 3, and 5-year % change
    Location NB sales vol – 2017 NB sales vol – 2019 NB sales vol – 2021 NB sales vol – 2022 (12 month est) Difference 2017 vs 2022 Difference 2019 vs 2022 Difference 2021 vs 2022
    Scotland 11,834 12,266 11,677 10,914 -7.8% -11.0% -6.5%
    South East 17,831 18,757 7,335 1,191 -93.3% -93.7% -83.8%
    London 15,426 12,658 6,358 1,179 -92.4% -90.7% -81.5%
    South West 12,465 11,082 4,522 594 -95.2% -94.6% -86.9%
   

Yorkshire and the Humber

8,922 9,527 3,502 444 -95.0% -95.3% -87.3%
    North West 11,755 14,776 5,058 432 -96.3% -97.1% -91.5%
    East of England 11,989 13,696 5,060 426 -96.4% -96.9% -91.6%
    West Midlands region 9,912 10,806 4,086 411 -95.9% -96.2% -89.9%
    East Midlands 10,139 10,785 4,188 396 -96.1% -96.3% -90.5%
    North East 5,720 5,863 1,835 102 -98.2% -98.3% -94.4%
    Wales 4,040 3,772 1,167 69 -98.3% -98.2% -94.1%
    Great Britain 120,033 124,007 54,788 16,158 -86.5% -87.0% -70.5%
                   
                   
    Table shows accumulated new-build sales in Britain since 2017          
    Location Total since 2017 (May 2017 to April 2022 – 60 months) Average per year          
    South East 70,060 14,012          
    Scotland 56,669 11,334          
    London 53,957 10,791          
    North West 50,641 10,128          
    East of England 49,194 9,839          
    South West 43,917 8,783          
    West Midlands region 39,659 7,932          
    East Midlands 39,425 7,885          
   

Yorkshire and the Humber

34,969 6,994          
    North East 21,357 4,271          
    Wales 13,721 2,744          
    Great Britain 473,630 94,726

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