INDUSTRY DATA
Look out for next month’s BB&D when we focus on Nottingham
In association with:
www.tdpg.com/research
FOCUS ON E8, TOP NEWBUILD HOTSPOT: Month
Percentage of all properties that are a newbuild
November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 July 2011
August 2011
September 2011 October 2011 November 2011
12 11 8 9
10 9 8
17 12 14 26 28 28
Percentage of all properties that are re-sale
88 89 92 91 90 91 92 83 87 86 74 72 72
Average newbuild sales price (£)
374,531 376,433 404,789 386,656 360,264 381,293 410,861 418,597 423,180 418,650 407,126 421,765 424,514
Average re-sales price
377,054 370,022 363,029 367,524 391,348 399,528 395,324 394,489 381,681 371,282 383,064 382,166 379,340
SUMMARY: Hackney (E8) has reached the title of London’s new build hotspot in the past three months. Since September, an influx of available new build properties has pushed the newhomes/re-sale ratio to 28 per cent/72 per cent. In terms of pricing, re-sale properies have remained very stable since last November 2010, with only a 0.6 per cent increase, whereas new home properties have seen an average steadily increase as the size and popularity of the new homes in Hackney pushes up prices by 13.3 per cent.
AVERAGE ASKING SALES PRICES IN LONDON: House
Flat
New build properties Re-sale properties All properties
SUMMARY:
According to the findings, re-sale flats are 4.3 per cent more expensive than new build. This can be explained by new developments being traditionally smaller than older properties. Management fees on new flats also leads to subdued pricing to reflect the greater ongoing cost of ownership. However, newbuild homes are 28 per centmore expensive as they are usually bigger four or five bedroomproperties. Therefore, their average price, which is close to £650k, reflects this larger size versus traditional London re-sale houses.
BritishBuilder.co.uk | British Builder & Developer | 9
£646,595 £505,999 £576,297
£264,358 £275,673 £270,016
Total
£455,477 £390,836 £423,156
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