Demand For New Builds Supporting Property Market

There has been such high demand for new builds recently that it has helped to support the property market.

Although house prices are beginning to fall, mortgage rates have increased and lenders have tightened their criteria, the market has been kept afloat by people still wanting brand new properties, according to developer Stripe Property Group.

Managing director James Forrester told Show House: “The new build sector continues to demonstrate strength and resilience and not only is there a consistent level of new homes reaching the market, but the demand for these homes remains substantially higher than the appetite for existing homes across the vast majority of the nation.”

The research found the new build sector has increased the number of homes for sale in the UK in the last two weeks by 7.2 per cent. It also revealed 14 per cent of all new homes listed during this period have already been sold subject to contract or had an offer accepted. This is two per cent higher than existing homes.

Mr Forrester noted the fact that new homes continue to sell quickly is a good sign the property market will “weather the current downturn”.

Indeed, recent findings from Zoopla revealed ten per cent of properties for sale in the UK have had their prices reduced by five per cent or more since September.

It also found that a third of houses and flats in the south-east and east of England outside of London have had to reduce their values to boost demand.

For corrugated roofing sheets for new builds, take a look here.