Housebuilders rise above downturn

Press release: 11.07.2022

The escalating cost of living is affecting mortgage affordability – yet housebuilders are reporting that the number of people actioning plans to move to a new build home remains strong.  Figures released today in the whathouse.com New Home Index reveal that the market may have lost its ‘froth’ but demand for new homes continues to hold up well.  A positive sign that the fundamental drivers behind the sector remain positive.

• The total number of people searching for new build properties is down -14% in June compared to May, but serious home hunters are holding strong and the number of people requesting development information remains reassuringly static against 2021 levels.
• Long held plans to move, lower maintenance costs, and increased energy efficiency continue to drive retirees interest in new build retirement homes.  Multiple regions across the UK experienced an increase in the number of people searching in May than in June, with Scotland up +63%.
• The end of the Help-to-Buy scheme means first time buyer interest is dropping (down -31% nationally in June) but interest in Part Buy Part Rent (Shared Ownership) is on the rise (East of England leads with a +39% increase in June compared to May) driven in part by housebuilders provision of incentives and affordability enablers. 

Daniel Hill, Managing Director, whathouse.com comments:

“The economy is under extreme pressure and the slowdown is being felt everywhere, but the need for new housing is not going to go away.  Any predictions about a collapse in the housing market are extremely premature.  As whathouse.com lead data shows, quality new home buyers are still there, we’re hearing from housebuilders that they’re still seeing significant interest and are achieving successful sales.  With incentives and affordability enablers being offered by housebuilders, we predict the market will steer away from a major slowdown.” 

Bianca Cullis, Head of Sales and Marketing, Owl Homes

“Buyers are still demonstrating confidence in the industry when identifying the befits of buying new over older properties, many of our developments are forward sold as a result of this and our focus is now completing on homes reserved earlier on in the year.”

Notes to Editors:

The WhatHouse? New Homes Index is based on data sourced from the whathouse.com new homes audience platform.  The Index is compiled using a sample representing approx. 400,000 new home buyer searches across England, Scotland and Wales per year and its findings are reflective of whathouse.com user experiences and geographic market share. 

The information and data in this report was correct at the time of publishing and every attempt is made to ensure its accuracy. However, it may now be out of date or superseded. Whathouse.com make no representation or warranty of any kind regarding the content of this report and accept no responsibility or liability for any decisions made by the reader based on the information and/or data shown here.

About WhatHouse?

Whathouse.com is the UK’s leading new home audience platform. For more than 30 years’ its aim has been to inspire UK homebuyer decisions around new property. With a comprehensive directory of over 7,000 new homes, from the UK’s most celebrated housebuilders, WhatHouse? makes it easy for buyers to consider the diverse range of property types and tenures available and to find their perfect new home match.  The annual WhatHouse? Awards started out back in 1980 and is dubbed ‘the Oscars of the housebuilding industry’.  

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