New homes sales are above average in Berks
AN ABOVE-average number of new build homes were sold in Berkshire last year according to new data from the Land Registry.
The Alliance Fund says it analysed transactions and the level of property transactions to have completed across each county of England over the last year and what proportion of these came via the new homes sector.
In all, across England there were 11,608 new homes sold, accounting for 2.1% of the total market transactions.
In Berkshire, there were 9,065 homes sold in total during 2022, of which 214 were new builds.
This represents 2.4% of all transactions reported by the Land Registry.
London was home to by far the highest number of new-build transactions 2022, with the 1,335 new homes sold accounting for 11.5% of all new-build sales last year. Greater Manchester (634) and West Yorkshire (565) came close to the might of the London new-build sector, accounting for 5.5% and 4.9% of all new homes sold across England in 2022.
While Greater London may have seen the most new-build sales complete in the last year, it ranks just 24th in the nation when it comes to the level of new-build market activity as a proportion of total homes sold: it was just 2.1% of total market activity.
Warwickshire was where the newbuild market has made the biggest mark over the last year. While just 256 new homes were sold across the county in 2022, this equated to 3.9% of total market activity.
Shropshire follows closely behind, where new-build transactions accounted for 3.8% of all homes sold, with Wiltshire (3.7%) and
Buckinghamshire (3.4%) also ranking within the top five.
Iain Crawford, CEO of Alliance Fund, an end-to-end real estate fund, said: “London certainly remains the dominant force within the new-build sector when it comes to the sheer volume of new homes sold in the last year and with such high-demand, it’s understandable why developers devote so much of their attention to the region.
“However, there are a high number of locations where new-build sales have driven market activity to a far greater extent when it comes to these transactions as a proportion of all homes sold.
“This appetite for new-build properties presents developers with an abundance of opportunity when it comes to where they choose to build, and while London will no doubt remain a consideration, it’s certainly not the only area of focus.”