New home buyers look   beyond Greater London for   post-pandemic living

New home buyers look beyond Greater London for post-pandemic living

New home buyers look   beyond Greater London for   post-pandemic living

Data released today in the WhatHouse? New Homes Index reveals the hottest areas across Britain for new home buyer search with South East of England, West Midlands and East Midlands top of the list for August 2021.  A sign that, post pandemic, home buyers are weighing up relocation to areas beyond the traditional Greater London commuter zone and considering a wider range of regions in the hunt for greater space and value for money. 

New home buyers look   beyond Greater London for   post-pandemic living
  • In August the national average price of new home property coming to market stayed virtually static at £334,801 (£338,339 in July).   
  • Top three new home search areas during August: 

1.       South East of England has demonstrated the most buyer demand during August 2021, achieving 31,293 new home buyer searches.  

2.       West Midlands maintains second position for the second month in a row, achieving 19,921 new home buyer searches during August 2021.  

3.       East Midlands has secured a top three search position with 16,760 new home buyer searches during August 2021, representing a 46% increase on July’s figures.  

  • During the past six months (March – August 2021) three regions have demonstrated month on month growth in new home search. 

1.       East Midlands – 46% growth 

2.       Yorkshire & The Humber – 28% growth 

3.       South East England – 22% growth 

Daniel Hill, Managing Director, WhatHouse? comments: 

“Whilst buyer’s future new home needs remain uncertain – as many employers are yet to confirm if, or when, the daily commute will return – many continue to consider a move unhindered by the need to be close to traditional transport networks, and with the need for ample home working space in mind.  This all points to buyer interest in new homes remaining strong across the UK, and WhatHouse? predicts higher than average Autumn search activity driven by continued buyer interest in relocation.” 

David O’Leary, Policy Director, Home Builders Federation said: 

“Buyer interest and appetite for new builds remains high with the clear focus of builders very much on finding a way through a number of thorny supply-side challenges. Materials availability continues to cause headaches and planning delays bring uncertainty and additional expense”. 

New home buyers look   beyond Greater London for   post-pandemic living
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New home buyers look   beyond Greater London for   post-pandemic living

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New home buyers look   beyond Greater London for   post-pandemic living
BDC 285 October 2021

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New home buyers look   beyond Greater London for   post-pandemic living