New build sales have plummeted in past decade

New build home sales have plummeted by -39% in the past decade, research by Warwick Estates has found.

In 2011 there were 68,677 sales, but by 2021 that number dropped to 41,634.

New build sales also fell year-on-year by -46%, as there were 76,764 in 2020.

Scotland is seeing the biggest appetite for new build, as there were 11,603 new-build sales in 2021 followed by the South East (5,094), London (4,627), and the North West (3,674).

The biggest regional one-year decline has been seen in Yorkshire & Humber, where numbers have declined by -62%, from 5,871 sales in 2020 to 2,236 in 2021.

Big drops have also been recorded in the North East (-61%), Wales (-60%), and the East of England (-58%).

The most significant ten-year drop has been recorded in Wales, where sales have fallen by -77% from 3,102 in 2011 to just 725 in 2021.

Large declines have also been seen in the North East (-62%), East (-59%), and South West (-58%).

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