ALMOST a quarter of homes sold in Wokingham borough over the past year are new builds, placing it in the top 10 for such sales in the country.
The 24% figure is almost three times the average across England: 9.8% of sales were freshly minted houses.
In London’s Tower Hamlets, 40% of homes sold were new-builds, with a figure of 28% in Hackney and Greenwich.
Property developer StripeHomes said it analysed property transaction data to find which areas were home to the largest number of new-build sales as a percentage of all property transactions.
Outside of London, only South Derbyshire (27%), Vale of White Horse (26%) and Salford (26%) saw such a high percentage of new-homes. Joining Wokingham on 24% were Harborough and Cherwell. Neighbouring Bracknell Forest Council saw new-build sales of 22%.
James Forrester, managing director of StripeHomes, said: “Not every region or even every local authority has benefitted from such a high level of new-build homes.
“In fact, you could argue we need more across the board, as current levels are still woefully inadequate given the demand we’re facing for housing in England and Wales.”
He argues that the planning reforms could change the situations.
“For far too long, the big developers have been allowed to drip feed stock as and when it suits, keeping their profit margins favourable to the detriment of UK homebuyers.
“Increasing competition within the sector and allowing smaller developers a foot in the door should help ensure this is no longer the case going forward. However, as always, it remains to be seen to what extent the Government will deliver on its promises.”
