The UK property market continues to showcase the significant role new homes play, contributing to nearly one in every five house sales annually.
In 2024, the average price paid for a new home across the UK was £505,978, reflecting a strong demand for modern, energy-efficient properties.
Below is a breakdown of average new home prices by region, listed in descending order:
- London: £940,467
- South East: £572,515
- East Anglia: £493,622
- South West: £456,192
- West Midlands: £370,162
- East Midlands: £368,267
- Scotland: £368,267
- Wales: £361,737
- North West: £351,412
- Yorkshire & Humber: £327,818
- North East: £313,131
- Northern Ireland: £279,827
London unsurprisingly tops the list, with average prices almost double the UK average, highlighting its premium market. In contrast, Northern Ireland sees the most affordable new home prices. Interestingly, East Anglia and the South East demonstrate robust averages, reflecting their appeal for both commuters and retirees.
This data underscores the diverse housing market across the UK and the continued importance of new builds in meeting buyer demands. As new homes make up a substantial portion of the market, understanding these regional variations can help buyers and estate agents navigate opportunities effectively.
If you are a Northampton homeowner, first-time buyer or landlord and wish to know if a new home could (or could not) be an appropriate next property purchase, please call us on 01604 626 626 or email on northampton@belvoir.co.uk
