New builds satisfying demand for detached homes
A significant proportion of new builds that changed hands in the past year were detached homes, reflecting how demand has shifted across the new build sector in the past 12 months.
The research, by new build snagging and defect management experts, BuildScan, found that 40% of new build transactions between March 2020 and February 2021 were for detached homes.
In comparison, 26% of new build transactions involved flats, followed by semi-detached properties (24%) and finally terraced homes (11%).
North East is detached hotspot
In the North East of England detached properties accounted for 60% of new build transactions, more than any other region.
While detached homes are generally considered a more expensive property type than flats or terraced houses, the North East was the UK’s most affordable area for detached new builds with a median sales price of £279,950.
The East Midlands was the second most popular region, as 54% of new build transactions were for detached homes, typically selling for £320,998 in the region.
Detached homes are rarer in pricier regions
In London just 1% of new build transactions were for detached homes, likely reflecting the premium placed on space in the capital. This premium is also clear when it comes to price, with the 1% of London new builds that do offer a detached home selling for an eye-watering £802,498 on average.
There’s a similar trend in the South East, the second most expensive region in England. Only 37% of new build transactions involved detached homes in the region, the second fewest, with a median sold price of £500,000.
Founder and Managing Director of BuildScan, Harry Yates, commented:
“We’ve all read the headlines about people looking for more green space during the pandemic, and our research suggests new builds are playing a major role in meeting this demand.
“Detached properties tend to offer more comfort and space to owners, whether you’re looking to establish a work-from-home office or relax in a garden.
“The data reveals significant regional disparities, as detached new builds sales are flourishing in the more affordable areas of England, like the North East.
“In areas like London space is so limited there’s likely to be fewer detached new builds coming to market, especially when you factor in the price of the land.