The price premium for new dwellings is 19.3%, up 1.1% annually

UNITED KINGDOM: The new-build market has continued to grow stronger, according to research by Alliance Fund, an end-to-end real estate fund. The average price of a new home is rising at a faster rate than the current market and is also commanding a bigger premium than it did the year before. (Reported by news source)

Nonetheless, it becomes evident that new-build flats continue to dominate the market for new homes when the data is broken down by property type. In 2022, the average new-build flat demanded a property price premium of 56.9% above the larger market, an increase of 4.5% annually.

The second largest premium, 14.9% for newly constructed terraced homes, has decreased by -0.7%.

Semi-detached new homes experience a similar trend, earning a premium of just 1.8%, also down -0.6% annually.

The North West has the second-largest annual growth in this premium, 9.2%, after the North East, with one of the biggest new-build price premiums in the country at 44.7%.