New Build Completions rise 6% increase year on year.
Recent figures from the Land Register Figures and the Ministry or Housing show a rise in new build completions by 6% in England over the last 12 months to May 2019.
A total of 169,770 new build dwellings were completed in the year to March 2019, an increase of 6 per cent compared to the year to March 2018.
Private enterprise new build dwelling completions were 6 per cent higher than in the previous year, and completions by housing associations increased by 3 per cent on an annual basis.
The geographic distribution of new build dwelling were stretching from west of London commuter belt across the midlands to East Anglia. Areas with high development were Eastleigh, Harborough and South Derbyshire.
The types of homes being built were 80% of houses and the remainder flats and apartments.
Freehold property was also on the up, 4% year on year.
However new homes are pushing up prices and are much more expensive than older homes.
New homes More Expensive
Although new builds are more energy efficient than old builds, recent research has shown that new build houses on average cost more than older houses by up to £20k.
But today people do tend to lean towards new build homes even though they tend to be less spacious, slightly lower ceilings, lack of storage space! and smaller gardens.
While the best of new-build homes are astounding and give you the luxury living that so many people desire you need to remember that if you have to sell a new build after 12-24months, you may struggle to recover your costs.