Homebuyer appetites for new-build properties have dipped.

Demand dropped 1.1 per cent in the last quarter according to analysis by easyMoney of activity in 20 UK cities.

Figures for Q4 2023 show 17.4 per cent of new-build homes listed for sale had already found a buyer, marking a decline of 1.1 per cent on an annual basis.

Southampton had the highest new-build buyer demand, where 38.8 per cent of properties had already been snapped up. 

This was followed by Bournemouth, Bristol and Portsmouth, all above 25 per cent.

In contrast, Swansea has seen the biggest drop in demand of all 20 cities with demand down 21.5 per cent year on year.

Stock levels had also fallen during the final quarter of 2023. Total new-build stock accounted for 7.4 per cent of all market listings, marking an annual supply drop of 0.7 per cent.

Stock levels were highest in Liverpool, Manchester, Edinburgh, Aberdeen and Leeds. The biggest stock reduction was recorded in Birmingham.

EasyMoney chief executive Jason Fernando says: “As market conditions continue to improve in 2024, we fully expect buyer appetite to increase further and this should help tempt developers into bringing more stock to market.”