Best ever start to spring as search for new homes hits a record high
New data from whathouse.com, the UK’s leading new home audience platform, can reveal that March has been the best ever start to spring as search for new homes hits a record high as data shows a 30% increase on the same time last year.
Key points from research:
- Another new homebuyer record as the number of home-hunters searching for new homes jumps by 4% through March to 50,374, representing a 30% increase on March 2021
- Nationwide buyer interest in new homes through the first three months of the 2022 has beaten expectations, with whathouse.com recording a 68% jump in search from the same period last year
- Home-hunter search for Help to Buy properties in the North West of England spiked during March, as whathouse.com data recorded a 50% increase from first-time buyers across the region
- New-build retirement properties continue to grow in popularity as whathouse.com search data pushes up by 18% across the UK, with the Midlands leading the way following a 60% growth in search
- Interest in luxury new homes continues to rise nationally, with an average growth in home-hunter search of 5%
Home-hunters search for new-build homes has now spiked for the third consecutive month, with the January-March search hitting 158,960 (+64,147, a 68% increase on the same period in 2021).
In addition, the March increase in Midlands Help to Buy search of 50% is the highest that whathouse.com has recorded in any region or month previous. This unprecedented home-hunter interest in new-build homes is being stoked by people putting into action long-planned lifestyle changes, the impending end of Help to Buy which comes following a period of lockdown saving, and the growing desire of homeowners to improve energy efficiency and lower running costs.
Daniel Hill, Managing Director, whathouse.com, comments:
“There’s a treble of reasons why home-hunters are searching for new-build homes in their droves, and why so many are making it their goal to complete this spring/summer.
“Firstly, now final pandemic restrictions have lifted people are putting into action long-planned lifestyle changes, with ‘more well-planned family space’ top of the agenda. And, having taken the opportunity to save over the past twenty-four months, are now using their strong position to step-up to a luxury new-build which provides purpose designed office, entertaining and home gym space.
“Secondly, the Help to Buy scheme is due to end 31 March 2023, starting the countdown clock for first-time buyers who have used numerous lockdowns to save hard for a deposit.
“Thirdly, the cost-of-living crunch and energy price hikes have made a new-build home the obvious choice for many people thanks to their much higher standards. New-build homes are far cheaper to run and will dramatically lower a household’s carbon footprint.”
James Holmear, Group Sales Director, Redrow, comments:
“Several the findings of the whathouse.com Index resonate closely with trends we are currently experiencing in customer demand and sales. We continue to see high demand from growing families.
“A significant number of second- and third-steppers have been in a fortunate position to save during the pandemic, meaning they are in the perfect position to make the leap to one of our larger footprint properties.
“More buyers are also choosing to further customise their home with additional spaces such as home offices, and conservatories, reflecting the confluence of work and personal life for many people.”
Kindly shared by WhatHouse?
Main article photo courtesy of Pixabay
