Scotland dominates British new-build market

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.