The New Build Market Review shows the overall, top level status of the New Build property market for the last decade, to the end of June 2017.
The volume of *transactions following the 2009 crash was impaired for several years but in recent years levels are now beginning to exceed pre-2009 volumes. (*A New Build transaction for reporting purposes is defined as a completed, full-price property sale). The volume of transactions for June exceeded that of preceding months making June the best month in 2017 so far.
Interestingly the house price recovered much more rapidly and the overall monthly value of the market is now almost double the value of the market in 2007. (In the graph below the total value of all transactions are listed by month from Jan 2007 to the close of June 2017. Units are in billions.) The overall trend continues to see price growth into the future, in part driven by inflation. The market value for June exceeded that of preceding months making June the best month in 2017 so far.
When the total annual value of the market is viewed by year from 2007 to 2016 there is a slightly reduced rate of increase in 2016.
On a regional basis London and the South East have led the way in terms of the number of post-recovery transactions recorded on a year by year basis. (The graph below shows values from 2007 to 2016).
When the value of all transactions by region is considered London has outperformed all other regions, with an overall value in 2016 in excess of £10 billion.
Average property prices for each major type of property (houses, semi-detached houses, terraced houses and flats) have all showed consistent increases since 2009 and the trend seems likely to continue. There has possibly been a slightly reduced rate of increase for detached houses.
Data for the above has been obtained from official Government sources.