Research by Alliance Fund, the end-to-end real estate fund, has revealed the English counties that saw the highest proportion of new build home sales in 2022.

The company analysed the level of property transactions to have been completed across each county over the last year and what proportion of these came via the new homes sector.

The figures show that across England as a whole, 11,608 new homes were sold in 2022, accounting for 2.1% of total market transactions.

Great London was home to by far the highest number of new build transactions, 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 second and third respectively, accounting for 5.5% and 4.9% of all new homes sold across England in 2022.

Two areas of the nation, Rutland and the City of London, saw no new build transactions take place in 2022.

However, when it comes to new build market activity as a proportion of all homes sold, Greater London ranks just 24th in the nation, with the 1,335 new build sales year equating to just 2.1% of total market activity.

Warwickshire saw the new build market make the biggest mark over the last year, with 256 new build home sales equating to 3.9% of the county’s total market activity.

Shropshire followed closely behind, where new build transactions accounted for 3.8% of all homes sold in the county, with Wiltshire (3.7%), Buckinghamshire (3.4%) and Northumberland (3.3%) completing the top five.

CEO of Alliance Fund, Iain Crawford, commented: “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 in the county.”

“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.”

Source: Show House News