Revealed - £3bn worth of new homes sold in 2022

The new homes sales progression and aftercare platform, Unlatch, reveals that Great Britain’s new-build housing market is worth almost £3 billion.

In accordance with new-build sales records from the Land Registry 7,591 new homes sold across Great Britain between January and May of 2022.

Cities in Great Britain with the highest house prices

The average new-build house price is £384,424. Based on this figure, the total market value of new homes sold across Britain sits at over £2.9 billion in 2022.

London is the most valuable new-build market is London. The capital has average prices of £562,397 and a total sales volume of 533. This brings the city’s total market value up to £300 million. 

Three of the most valuable markets Great Britain are located in Scotland. Edinburgh has sales at an average price of £404,811 and a market value of £225 million.

Glasgow’s new-build market is worth £93 million and Aberdeen’s market is worth £61 million. In fifth place is Birmingham where total new-build sales create a value of £14 million. 

Lee Martin, head of UK for Unlatch says: “The total value of new-build market sales so far this year may seem sizeable, but it’s fair to say that it’s really just the tip of the iceberg.”

“We’ve seen a number of factors complicate the construction and development of new homes in recent years and while the pandemic proved challenging, the escalating cost of materials and the issues surrounding EWS1 forms have also played a part in the delivery and sale of many properties.”

“It seems as though the impact of some of these issues remain as so far this year, the sheer volume of new-build homes sold is actually down on an annual basis. However, this certainly doesn’t look set to be an ongoing issue and many big housebuilders have set their sights on Q4 to deliver some of their largest developments.” 

“Therefore, we can certainly expect a late flurry of sales over the coming months and it will be interesting to see just what the total value of new-build transaction hits come the end of the year.”