Oxfordshire is named new build homebuyer hotspot

March 30, 2021 / Isla MacFarlane
Oxfordshire is named new build homebuyer hotspot

Oxfordshire is currently the nation’s new build homebuyer hotspot according to the latest research from new build experts, BuildScan, the snagging and defect management app.

BuildScan analysed the property market across England over the last year, looking at the number of new build transactions completing in each major city and what this equated to as a percentage of all transactions.

The figures show that there were 542,875 homes sold across England in 2020, despite the tougher market conditions caused by Covid. 36,750 of these came via the new build sector, meaning new homes accounted for 6.8% of all transactions.

With 5,147 new build transactions, London saw the highest number of new build homes sold in terms of sheer volume.

However, it is Oxfordshire that ranks as the hottest spot for new build purchases when considering new build transactions as a percentage of all transactions. 945 new homes were sold in Oxfordshire in 2020, 13.5% of the 6,991 homes sold overall.

Bedfordshire also ranked high, with the 842 new build sales to complete in the area accounting for 12.5% of all transactions in 2020.

Warwickshire (11.2%), East Riding of Yorkshire (10.1%) and Northumberland (10%) also placed amongst some of the hottest spots for new-build homebuyers, with the sector accounting for 10% or more of total homes sold.

Leicestershire (9.9%), Berkshire (9.8%), Wiltshire (8.9%), London and Cambridgeshire (8.7%) also placed within the top 10.

In contrast, the Isle of the Wight saw the least new build homebuyer activity in 2020. Just 1.5% of all transactions on the island came via the new build sector, with East Sussex (3%) and Bristol (3.6%) also amongst the lowest.

Founder and Managing Director of BuildScan, Harry Yates, commented: “2020 was a tough year and this was no different for those working within the new build sector, with the delivery of many developments delayed due to Covid difficulties.

“That said, there was a monumental effort in the final quarter of the year to boost the number of homes reaching the market and we expect this to materialise via an increase in new build completions during 2021.

“London continues to see the highest volume of new homes transacting but it’s great to see other regional frontrunners leading the way in terms of new build completions as a percentage of all transactions. This shows that there is a real appetite for these developments across the nation and the focus shouldn’t be solely on building in London.”

Residential property transactions completed in each region between Jan and Dec 2020
Location New Build Transactions Existing Transactions ALL Transactions NB transactions as a % of ALL transactions
NORTH EAST 1,943 24,235 26,178 7.4%
EAST OF ENGLAND 4,660 60,730 65,390 7.1%
EAST MIDLANDS 3,450 46,647 50,097 6.9%
SOUTH EAST 6,388 88,079 94,467 6.8%
NORTH WEST 4,808 69,289 74,097 6.5%
WEST MIDLANDS 3,385 49,555 52,940 6.4%
SOUTH WEST 3,785 61,419 65,204 5.8%
YORKSHIRE AND THE HUMBER 3,184 52,378 55,562 5.7%
ENGLAND 36,750 506,125 542,875 6.8%
Data sourced from the Land Registry Price Paid Data records for residential transactions at £40,000 or above
         
English counties with the highest number of new build transactions as a percentage of all transactions (Jan 202-Dec 2020)
Location New Build Transactions Existing Transactions ALL Transactions NB transactions as a % of ALL transactions
Oxfordshire 945 6,046 6,991 13.5%
Bedfordshire 842 5,893 6,735 12.5%
Warwickshire 720 5,681 6,401 11.2%
East Riding of Yorkshire 455 4,045 4,500 10.1%
Northumberland 369 3,304 3,673 10.0%
Leicestershire 807 7,338 8,145 9.9%
Berkshire 818 7,549 8,367 9.8%
Wiltshire 470 4,829 5,299 8.9%
Greater London 5,147 53,793 58,940 8.7%
Cambridgeshire 555 5,814 6,369 8.7%
Data sourced from the Land Registry Price Paid Data records for residential transactions at £40,000 or above
         
English counties with the lowest number of new build transactions as a percentage of all transactions (Jan 202-Dec 2020)
Location New Build Transactions Existing Transactions ALL Transactions NB transactions as a % of ALL transactions
Isle of Wight 30 1,992 2,022 1.5%
East Sussex 211 6,737 6,948 3.0%
City of Bristol 162 4,294 4,456 3.6%
Hertfordshire 439 11,189 11,628 3.8%
Surrey 560 12,280 12,840 4.4%
West Midlands (county) 981 20,469 21,450 4.6%
City of London 4 78 82 4.9%
South Yorkshire 631 12,225 12,856 4.9%
West Yorkshire 1,152 21,730 22,882 5.0%
Dorset 247 4,575 4,822 5.1%
Data sourced from the Land Registry Price Paid Data records for residential transactions at £40,000 or above
         
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