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Free parking & government support, study reveals what new build buyers want

Warwick Estates has revealed the most in-demand features for new-build buyers.

The firm has analysed Rightmove data and found that those buying new build are more likely to favour home buying schemes and terraced or semi-detached properties.

The analysis showed there are 51,282 new-build properties listed for sale on Rightmove.

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With 18,095 already sold, demand for new-build homes currently sits at 35.3 per cent.

This still lags behind demand for secon-hand homes, where demand was 67.2 per cent.

Warwick Estates found that 45.5 per cent of all terraced home new-builds have already gone under offer or sold subject to contract, with the second most in-demand new-build property type being semi-detached.

Another 42 per cent of listings sold were through government schemes such as shared ownership or Help to Buy.

Beyond these factors, parking spaces were also in high demand, with 39.6 per cent of sold new-builds offering this feature, while 37.2 per cent sought garden space.

Bethan Griffiths, chief operating officer of Warwick Estates, said: “New-build homes remain a popular choice amongst many homebuyers and it’s not just flats that are proving popular, with the sector also satisfying the pandemic uplift in demand for larger homes.

“Of course, a new-build home naturally carries a price premium when compared to existing housing stock and, with the stamp duty holiday causing a house price boom, it’s no surprise that demand is high for homes offering the additional help of a buying scheme.”

Table shows most in-demand features for UK new-build homes

Category

Demand

Buying scheme eligible

42.0%

Parking

39.6%

Garden

37.2%

Source - Rightmove

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