New research by money.co.uk has revealed the areas in the UK with the most new-build properties – perfect for those looking for a step up on the property ladder.
The study by the mortgage experts analysed areas across the UK on a series of factors such as the number of private new-build completions from 2020-2021 to disclose which areas have the most new-build properties.
The 10 areas with the most new-build properties in the UK:
Rank | Authority | Private New Build Completions (2020-2021) |
1 | Manchester | 3,130 |
2 | Tower Hamlets | 2,680 |
3 | Leeds | 2,590 |
4 | Southwark | 1,990 |
5 | Cornwall | 1,790 |
6 | North Northamptonshire | 1,670 |
7 | City of Edinburgh | 1,563 |
8 | Cheshire East | 1,360 |
9 | Salford | 1,280 |
10 | County Durham | 1,240 |
It’s no surprise that a major city takes the top spot when looking at the number of new properties built from 2020 to 2021.
Manchester saw 3,130 private new-build homes being built between 2020-2021 and these homes would command an average of £281,869 with existing homes in the area averaging £214,612.
Although existing homes come out at a lower cost in this area, they may still require additional work as opposed to brand-new properties.
Tower Hamlet takes second place with a total of 2,680 private new-build properties being completed from 2020 to 2021. This area came in as the most expensive offering with new-build homes costing £535,794.96 on average.
In comparison, the average number of new-build properties per area in the UK is 388 properties, which means that Manchester has over 8 times more new builds than the average UK authority.
The research also revealed the areas with the highest number of new builds per 100,000 people:
Rank | Authority | Population (2021) | Private New Build Completions (2020-2021) | New Builds Per 100,000 Residents |
1 | Tower Hamlets | 310,300 | 2,680 | 863.68 |
2 | South Derbyshire | 107,200 | 800 | 746.27 |
3 | Harborough | 97,600 | 670 | 686.48 |
4 | Ribble Valley | 61,500 | 420 | 682.93 |
5 | Southwark | 307,700 | 1,990 | 646.73 |
Tower Hamlets once again ranks high and tops the table for the most new-builds per 100,000 people.
This area has a population of 310,300 and 2,680 private new build completions were achieved between 2020/21 and there are 863.68 new builds per 100,000 people in this London borough.
Additionally, the study also found that West Devon is the best area in the UK to buy a new build property, with the location scoring 9,27 out of 10 on the new build index score.
Harlow sees the greatest percentile difference between old and new home prices, at 56.51%, with newer homes costing on average £400,490 more than existing homes.
If you’re on the hunt for a cheap purchase Hyndburn, Lancashire would be best. The average new build price is £137,072 which is a £571,661 difference from the Harlow, which is the most expensive new build area on the list.
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