New home prices jump across Britain

Press release: 08.11.2021

The autumn new build property market remains healthy, despite concerns over potential interest rate rises and the conclusion of final stamp duty incentives. Fresh data in the WhatHouse? New Homes Index reveals the price of new home property coming to market has rallied, following a three-month summer cooling, jumping by an average of 1.8% to £335,227 (+£5,914) in October.

High levels of demand from buyers continues to outstrip the number of new build homes there are for sale. The desire for more space and people’s reinvigorated desire to connect with nature has driven an outward migration from cities, increasing demand for suburban homes that is largely being met by the new homes sector.

• Top three new home search regions during October:

1. South East of England - 16,111 new home buyer searches

2. South West of England - 8,627 new home buyer searches 

3. West Midlands* - 8,596 new home buyer searches

(*4^th consecutive month in the top three)

• Number of new home searches was up across England, Scotland and Wales by 19.8% in October, versus 2019’s ‘normal market conditions’ comparison
• Number of new home properties coming to market ticks up compared to summer, particularly in Help to Buy and Luxury categories, but not enough to satisfy strong buyer demand for new home properties.

Daniel Hill, WhatHouse? Managing Director comments: “Competition for new homes remains healthy this autumn, with average prices increasing by almost £6,000 in the month. Although more new build properties are coming to market, the level is still not enough to meet demand. Consequently, price uplifts have been experienced across the UK, with nine of the eleven regions of Great Britain recording an uptick.

Looking forwards, WhatHouse? predicts that prices will once again cool or flatten. Much will depend on local factors and micro economies will influence the performance of individual developments. House builders will be looking very carefully at their cancellation rates throughout the next few months and will expect to have to work harder for each sale. The 80/20 rule for development sales will become more apparent and we are already beginning to see incentives being used on slower developments.”

Notes to Editors:

The WhatHouse? New Homes Index is based on data sourced from the WhatHouse? 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? user experiences and geographic market share.

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 developments available and to find their perfect new home match.

The annual WhatHouse? Awards started out back in 1980 and will mark its 41st birthday at an extraordinary industry event, sponsored by BritishVolt, in November 2021.  Dubbed ‘the Oscars of the housebuilding industry’, the awards send a panel of expert judges to every corner of the UK to find winners within over 20 categories including Best Starter Home Project, Best Sustainable Development, and the coveted Housebuilder of the Year title.

Contact our press team:

WhatHouse? Online Press Centre

Call Jill Willis: 07855 409970

Email: [email protected]