January 25, 2022

UK: The new-build hotspots where homebuyers are heading

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From James Lockett, ProperPR

The latest research by the new-build sales optimisation platform, Unlatch, has revealed where the nation’s homebuyers currently have the strongest appetite for new-build homes, with up to 68% of new homes stock already snapped up as we start the new year. 

Unlatch analysed current demand for new-build homes across 22 major cities across the nation to reveal where the sector was seeing the largest level of activity, based on the ratio of new homes already sold subject to contract or under offer as a percentage of all new-build stock listed for sale. 

The research shows that across the UK as a whole, 34% of new-build homes currently on the market have already been snapped up by eager homebuyers. 

At city level, this demand is as its greatest in Plymouth, where 68% of all new-builds listed for sale have already agreed a sale or received an offer. 

Bournemouth ranks as the next hottest spot for new-build homes, with 65% of market stock already flying off the shelves, while Bristol ranks third as the only other city to see this level of market activity hit the 60% threshold. 

In fact, the south coast also accounts for the remainder of the top five hottest new-build markets, with Portsmouth (58%) and Southampton (51%) also ranking high for new home homebuyer demand. 

Swansea (43%), Nottingham (36%), Cambridge (34%), Leeds (31%) and Manchester (26%) complete the top 10. 

At the other end of the table, Aberdeen is home to the lowest level of new-build demand with just 2% of stock sold subject to contract or under offer. 

Liverpool (14%), Newcastle (15%), Leicester (15%), Glasgow (15%) and Birmingham (15%) also rank amongst the lowest. 

Lee Martin, Head of UK for Unlatch says:

“A new year and there’s certainly been no let-up where homebuyer demand for new homes is concerned. The sector has played a pivotal role in servicing the tidal wave of market activity seen over the last 18 months and the influence of the pandemic remains clear to see with coastal locations remaining the most in demand areas of the current market. 

This is only to be expected given the spread of the Omicron variant which has caused us to take a bit of a step backwards but, as the booster rollout intensifies and we strive to return to a greater sense of normality, demand for new homes across more central major cities is sure to increase.”

Data sourced from the major property portals (December 2021) with demand based on the number of new-build properties already sold subject to contract or under offer as a percentage of total properties listed. 
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Notes

  • Unlatch was launched in Paris in 2018 and founded by Thomas Rivoire, Francois Marill and Olivier Adam
  • Raised 6m Euro in funding including from a consortium of French Notaries and AXA Venture Partners
  • Expanded internationally in Belgium in November 2019, Spain and Portugal in May 2021 and the UK in October 2021
  • Lee Martin, Head of UK, has 20 years new homes experience and founded Preston Bennett which became part of Hamptons International when Lee sold the business to them in 2017
  • Track and access sales progression milestones and comms 24/7
  • Automate and populate all legal sales documents
  • Create reservations and take payments digitally
  • CRM and analytics features
  • Reduce offer to exchange time by 29 days (French data)
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