London leads way in newbuild hotspots

The UK’s newbuild hotspots have been revealed with London unsurprisingly leading the way on the most sales of new homes in 2019.

Research by new home specialists Stone Real Estate has revealed two London boroughs had the most newbuild transactions – Tower Hamlets at 42 percent of all homes purchased and Greenwich at 30 percent.

The top 10 also includes Harrow and Southwark, both sitting at 25 percent of newbuild sales in all property sales.

Regions thrive

Other hotspots include the Vale of White in Oxfordshire (32 percent), Basingstoke and Deane (29 percent), South Derbyshire and Slough (29 percent), Harborough and Rugby (27 percent).

Gosport in Hampshire registered the lowest number of newbuild sales at just 0.2 percent in the Stone Real Estate research.

Need more housing

Michael Stone, the chief executive of Stone Real Estate, said: “As a nation, we’re in desperate need of more housing stock.

“And while the Government’s delivery of this has been inadequate at best, it’s good to see there are pockets across the nation where newbuild properties are hitting the market and being snapped up by buyers.

“Newbuild developments are now providing a lifestyle that appeals to numerous segments of the market, whether it be young professionals or families and more.”

Builders must deliver

And he added: “These tailored living environments are taking it above and beyond a roof over your head, which resonates amongst buyers and should see the popularity of newbuild homes continue to climb.

“However, more must be done to incentivise the big housebuilders to continue delivering these homes as, in some areas, the level of newbuild stock is almost non-existent.”