New build prices suffer slump, Propertymark warns
Estate agents are seeing a fall in the amount asked for new build properties in many parts of UK.
Estate agents are seeing a reduction in the price of instructions on new builds, Propertymark says.
Data from the trade body suggests there was a decline in the average amount being asked for new build properties across the UK between April 2025 to the same time this year.
Price falls were experienced in Wales, the North West, South East, South West, and Yorkshire and Humberside.
Biggest decline
With the biggest decline in Wales, where the pricing on available properties dropped from £385,488 to £365,789.
And the smallest reduction was in the South West, where it fell from £461,165 to £458,068.
However, the East Midlands, the East of England, London, the North East, and the West Midlands all witnessed growth in prices.
The lowest increase was in Scotland, where the amount went up from £362,919 to £368,011.
Long gone
Nathan Emerson, Chief Executive at Propertymark, says: “We live in a very different world than only ten years ago. The home working revolution continues to reformat core requirements and demands from people regarding where they both aspire and can realistically choose to move to.
“Long gone is the defined need for many people to commit to a daily commute to a specific location to earn a living and now many people are enjoying the freedom of greater choice regarding their locality.”
Propertymark says the average price of a new build property can be influenced by aspects such as the precise location of a new development, the demands of the planning system, actual property type, plus aspects such as costs of both materials used and labour costs involved.
