These Are England’s New Build Homebuyer Hotspot
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Oxfordshire is currently England's new build homebuyer hotspot according to the latest research from new build experts, BuildScan, the snagging and defect management app.
BuildScan analysed the property market across England over the last year, looking at the number of new build transactions completing in each major city and what this equated to as a percentage of all transactions.
The figures show that there were 542,875 homes sold across England in 2020, despite the tougher market conditions caused by Covid. 36,750 of these came via the new build sector, meaning new homes accounted for 6.8% of all transactions.
With 5,147 new build transactions, London saw the highest number of new build homes sold in terms of sheer volume.
Oxfordshire Tops The Hottest New Build Homebuyer Spot
However, it is Oxfordshire that ranks as the hottest spot for new build purchases when considering new build transactions as a percentage of all transactions. 945 new homes were sold in Oxfordshire in 2020, 13.5% of the 6,991 homes sold overall.
Bedfordshire also ranked high, with the 842 new build sales to complete in the area accounting for 12.5% of all transactions in 2020.
Warwickshire (11.2%), East Riding of Yorkshire (10.1%) and Northumberland (10%) also placed amongst some of the hottest spots for new-build homebuyers, with the sector accounting for 10% or more of total homes sold.
Leicestershire (9.9%), Berkshire (9.8%), Wiltshire (8.9%), London and Cambridgeshire (8.7%) also placed within the top 10.
In contrast, the Isle of the Wight saw the least new build homebuyer activity in 2020. Just 1.5% of all transactions on the island came via the new build sector, with East Sussex (3%) and Bristol (3.6%) also amongst the lowest.
An Increase In New Build Completions During 2021
Founder and Managing Director of BuildScan, Harry Yates, commented:
“2020 was a tough year and this was no different for those working within the new build sector, with the delivery of many developments delayed due to Covid difficulties.
That said, there was a monumental effort in the final quarter of the year to boost the number of homes reaching the market and we expect this to materialise via an increase in new build completions during 2021.
London continues to see the highest volume of new homes transacting but it’s great to see other regional frontrunners leading the way in terms of new build completions as a percentage of all transactions. This shows that there is a real appetite for these developments across the nation and the focus shouldn’t be solely on building in London.”
- Founder of HouseScan and BuildScan, Harry Yates, comes from a family background of construction and also holds a Construction Management degree.
- Having done the basics of the job for a number of years, Harry launched HouseScan four years ago, then started introducing his bespoke technology in 2020 to fulfil the snagging process properly.
- HouseScan is the new build snagging experts, using their knowledge, expertise and equipment to ensure your new home is as it was promised.
- HouseScan has been employed by thousands of customers buying new build homes from a wide range of different housebuilders.
- The HouseScan inspection and report is not only award-winning but more comprehensive than any of their competitors. HouseScan keeps up to date with all industry changes and regulations and they are also equipped with a range of equipment totalling over £4000 each.
- BuildScan is a multi-platform app that allows users to manage defects, snag lists, punch lists, surveys and project workflow in full synchronisation and with unlimited collaboration. Teams or individual users can manage entire projects through BuildScan, assigning and controlling tasks, workflow and much more for effective construction defect management.
- With BuildScan you can break your projects down into sites, plots and build stages for easy project management, log unlimited snags & defects straight into the BuildScan app, assign these defects as tasks to individuals & contractors within your team, manage and track progress throughout all stages of your project, create, manage & export snagging & inspection reports directly from the app
- BuildScan launched on the 3rd November 2020.