Asking prices for new-build homes have seen substantial increases in various parts of Britain, despite a general slowdown in the housing market. Data from estate agent membership body Propertymark reveals that the average price of a newly listed home has risen by almost 13 percent year-on-year.
In Wales, the asking price for a new-build property surged by £43,494 between July 2025 and July 2026, reaching an average of £381,716. This represents a 13 percent increase. Consequently, buyers in Wales are now facing a premium of nearly £90,000 for a new home compared to existing properties, which have an average asking price of £291,349.
Similar trends are observed in other more affordable regions. The West Midlands has seen new properties listed at an average of £418,281, an increase of £33,838, or 8.8 percent, from the previous year. The North East, while featuring the cheapest new builds at an average of £345,867, has still experienced a rise of £27,878, or 8.8 percent, over the past year. In Scotland, new homes are now listed at an average of £388,073, a £20,287 increase, representing a 5.5 percent rise. Second-hand homes in Scotland are priced significantly lower, averaging £228,276.
These figures contrast with the overall housing market, where average asking prices fell by 2 percent in August, according to separate data from Rightmove. This marks the largest average asking price drop for August since 2018. The decrease in the wider market is attributed to factors such as higher building costs and housebuilder concerns regarding the impact of rising mortgage rates on buyer demand.
The decline in the number of new-build homes entering the market in England, reportedly at its lowest level since 2017, contributes to price increases for new properties due to supply and demand dynamics. When fewer new homes are available, competition can intensify, potentially driving up prices.
However, not all regions have experienced this upward price movement for new builds. The East of England recorded the largest decline, with average prices falling by £18,713 to £505,001, a 3.6 percent decrease. In London, the average asking price for a new build dropped by £6,766, or 0.8 percent, to £839,100. The South East also saw a slight decrease of £3,300, with new-build properties averaging £548,809.
These regional variations may be influenced by factors such as buyer anxieties related to leasehold issues, cladding, and service charges, particularly impacting the market for flats in certain areas. Propertymark's chief executive, Nathan Emerson, noted these regional disparities and indicated that any housing-related announcements in the upcoming budget would be closely monitored, especially those aimed at assisting first-time buyers.