By Data released today in the WhatHouse? New Homes Index reveals that buyer interest in new build homes across Britain has reached an all-time high during Q2 (April, May, June) with a record-breaking total of 493,521 buyer searches recorded during the period (+135% on Q1 figures).
A sign that relaxing COVID restrictions and changing space and lifestyle requirements have amplified the natural seasonal uplift and taken market activity to sky high levels.
- The national average price of new home property coming to market has increased in June by +3% to £338,042 (a rise from £326,660 in May).
Top three new home search areas during June 2021:
- South East of England has demonstrated the most buyer interest achieving 22,862 new home buyer searches.
- London maintained its second-place position for a second month running, achieving 16,819 new home buyer searches.
- West Midlands also maintained its third-place position for a second month running, achieving 16,445 new home buyer searches
- Q2 has achieved a +135% increase in buyer demand recording a total of 493,521 new home buyer searches during April, May, June compared to 94,813 total new home buyer searches during Q1 (Jan, Feb, March) 2021.
Daniel Hill, Managing Director, WhatHouse? comments:
“Q2 has broken all new home search records as the WhatHouse? New Homes Index tracks 493,521 new home buyer searches, up a staggering 135% on Q1 2021.”
“This explosion in new home interest is now starting to cool slightly, likely in response to the anticipated tax-free threshold drop which took place at midnight June 30th – but market activity remains at record levels as buyers across the UK show interest in new build homes motivated by changing space and lifestyle requirements.”
“Britain’s more northerly regions are the standout stars of 2021 so far, as the North East achieves a 6% increase in new home search and the North West maintains its top three new home search spot for a second month in June.”
“This satisfies pent-up housing need across the regions, but also goes some way to level the huge price gap with London as the North West records a 10% increase in new home average price, compared to London’s -1% drop.”
Stewart Baseley, Executive Chairman, The Home Builders Federation said:
“Demand for new homes remains robust.”
“Issues with materials availability has caused concern in recent months but these are being worked through.”
“Many sites remain forward sold for much of the remainder of the year and into 2022 with investment appetite remaining strong.”
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