"With £3.2bn worth of new-builds coming to the British market in just a fortnight, it’s clear that confidence is up among developers and investors."
- Jason Ferrando - easyMoney
easyMoney has analysed the number of new-build homes that have come onto the housing market for sale across Britain. Using the average new-build house price, the peer-to-peer real estate investment platform has estimated the total market value of this recent influx of new homes.
The data reveals that an estimated 7,288 new-build homes were delivered to the British market over the past 14 days. With an average British new-build house price of £439,086, the combined market value of these new-build housing stock stands at £3.2bn.
London has seen the most new homes delivered, totalling 764 in 14 days. Due to the high average house price in the capital, which for new-builds stands at £612,906, the total value of these new homes stands at a hefty £468.3m.
Manchester has seen the delivery of 250 new builds with a combined market value of £82.3m, while in Glasgow, 91 new builds have entered the city’s market with an estimated total value of £25.2m.
These 91 Glasgow new-builds account for 20.2% of the total current available new-build stock in the city, a higher proportion than any other British city.
Jason Ferrando, CEO of easyMoney says: “With £3.2bn worth of new-builds coming to the British market in just a fortnight, it’s clear that confidence is up among developers and investors. They’ve seen the economic forecast brighten, and they’ve heard the new Labour government pledge loudly about delivering new homes at a rate not seen in this country for decades.
"Property has always been a reliable investment asset in the UK, providing great returns and providing low risk, even when external economic conditions appear dire. Now that the country is on the up and recovering from another difficult period, we fully expect new-build delivery to ramp up even more than we are seeing already.”
