27 May 2022

New home construction increases by 31%

BY John Gebbels  

Zoopla news has reported on the number of new homes under construction, which has soared by 31% as developers respond to strong buyer demand in a hot market. 

Reportedly more than 35,000 new private sector homes were registered during the first three months of this year, almost a third more than in the same period of 2021. 

Figures were up for all property types, but the number of detached homes under construction has now soared to a 20-year high, according to the National House Building Council, which provides warranties on new-build homes. The NHBC said house builders were responding to demand from buyers who want more space following the Covid-19 pandemic, particularly those who now work from home.

And there’s also good news for renters. Nearly 11,000 Build to Rent and affordable properties began construction in the  last three months, that’s 10% more than the same period in 2021. Build to Rent provides homes that are designed and managed specifically for renters. 

For the full article please follow the link below, or to discuss the Oxfordshire market for new build homes please don't hesitate to contact us.