New builds sell for more than pre-owned properties

Michael Lloyd

January 21, 2020

New build homes sold in England and Wales last year were an average of 19% more expensive than pre-owned properties, Monmouthshire Building Society has found.

This means that new build buyers were paying an average of £55,568 more for their property.

The North was the most expensive region to buy a new build rather than a pre-owned property, with new builds being £75,005 more expensive on average.

This was followed by Wales, where new builds were an average of £69,350 more expensive than pre-owned properties.

Across England and Wales, detached new builds were actually 10% cheaper than pre-owned detached properties.

For all other property types it was more expensive to buy a new build, with new build flats being 53.7% more expensive than pre-owned flats.

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