NEW HOMES MARKET REVIEW | AUTUMN 2019

KEY FINDINGS:

  • The new build market accounts for around 10- 13% of sales in the Scottish market every year.
     
  • The average new build price is around 48% higher than the average 2nd hand home.
     
  • New build apartments command the highest premium over 2nd hand stock, with premiums increasing to c.75% across Scotland in 2018.
     
  • The number of new build sales reached their highest point in a decade in 2018, with sales in Q3 2019 ahead of the same period last year.
     
  • The average new build house price across the Edinburgh and Glasgow housing market areas is £282,000; achieving £240/sqft.
     
  • Developments in the Edinburgh and Glasgow housing market areas have averaged 4.4 sales per month over the past year.