Buying schemes are most in-demand features for new build buyers

Buying schemes are most in-demand features for new build buyers

Buying schemes are most in-demand features for new build buyers

The latest research from Warwick Estates, has revealed which new-build features are currently the most in-demand amongst new-build homebuyers in the current market.

Warwick Estates analysed current new-build stock listed on the market and which features offered across these properties were most in demand based on the number of homes already under offer or sold subject to contract as a percentage of all available stock.

UK new-build buyer demand

Across the UK, there are currently 51,282 new-build properties listed for sale. With 18,095 already sold, demand for new-build homes currently sits at 35.3%.

Most in-demand new-build property type

Despite pandemic lockdown restrictions causing heightened demand for detached homes offering more space, the research by Warwick Estates shows that it’s terraced homes that are currently most in demand.

45.5% of all terraced home new-builds have already gone under offer or sold subject to contract, with the second most in-demand new-build property type being semi-detached (44.7%).

Most sought after property features

When studying the most in-demand property features for new-build buyers in the UK, Warwick Estates has discovered that affiliated buying schemes are what buyers want most. 42% of new-build homes providing the additional help of a buying scheme have already been snapped up across the UK market.

Parking spaces are also in high demand. 39.6% of new-builds offering this feature have already been sold, with garden space also remaining popular with demand at 37.2%.

COO of Warwick Estates, Bethan Griffiths, commented:

“New-build homes remain a popular choice amongst many homebuyers and it’s not just flats that are proving popular, with the sector also satisfying the pandemic uplift in demand for larger homes.

Of course, a new-build home naturally carries a price premium when compared to existing housing stock and, with the stamp duty holiday causing a house price boom, it’s no surprise that demand is high for homes offering the additional help of a buying scheme.

Above and beyond this financial incentive, buyers continue to value homes with garden space having spent months in lockdown, as well as the more traditional feature of a parking space.”

Table shows UK sales demand % for new-build and existing properties
Category Demand
Existing properties (excl NB) 67.2%
New-build properties 35.3%
Source – Rightmove
   
Table shows demand for types of new property in the UK
Category Demand
New-build – Terraced 45.5%
New-build – Semi detached 44.7%
New-build – Detached 36.9%
New-build – Flat 27.0%
Source – Rightmove
   
Table shows most in-demand features for UK new-build homes
Category Demand
Buying scheme eligible 42.0%
Parking 39.6%
Garden 37.2%
Source – Rightmove
   
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Buying schemes are most in-demand features for new build buyers

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Buying schemes are most in-demand features for new build buyers
BDC 285 October 2021

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Buying schemes are most in-demand features for new build buyers