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TODAY'S OTHER NEWS

Revealed - massive premiums buyers pay for new-build homes

New build homes cost 19 per cent more than comparable pre-owned properties according to a new survey - and sometimes 50 per cent.

The Monmouthshire Building Society, which assesses the different markets in England and Wales during 2019, says new build properties in the North, Wales and East Midlands were particularly more expensive than pre-owned properties.

New flats/maisonettes in the North, Wales and West Midlands cost 50 per cent or.more than their pre-owned counterparts. 

However, new-build detached properties were cheaper than pre-owned detached homes in Greater London, the South East, the North West and the South West.

The Monmouthshire says 11.5 per cent of all properties sold in England and Wales were new builds.

Wales had the lowest rate of new build sales - 6.6 per cent of all sales were new builds - while Greater London had the highest, where 13.7 per cent of all sales were new builds.

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