The latest quarterly New Builds Pricing Report from Propertymark reveals the extent of variations in both seasonal and regional pricing for newly built homes.
In London, the Q3 price increased by £102,685 compared to the same period the previous year, taking the average cost to £819,000. In Q2, London new-builds experienced the steepest decline, falling by £122,770.
In Q3, the only regions to experience declines in new-build pricing were the South West (down £33,120) and Yorkshire and Humberside (down £33,104). In Q2, declines were present in seven regions, with only the South West experiencing year-on-year declines in consecutive quarters.
New-builds in the East Midlands saw a significant change in price, increasing by £15,959 in Q3 after a fall of £43,068 in Q2. The North East also experienced a substantial price adjustment, rising by £15,771 in Q3 after falling by £37,123 in Q2.
| Oct-25 | Overall Prices | Year on Year Change Price |
| Scotland | £371,855 | £17,145 |
| Wales | £381,914 | £4,682 |
| East Midlands | £378,423 | £15,959 |
| East of England | £523,344 | £21,165 |
| London (inner and outer London) | £819,800 | £102,685 |
| North East | £344,568 | £15,771 |
| North West | £372,622 | £61,404 |
| South East | £574,894 | £20,283 |
| South West | £432,873 | -£33,120 |
| West Midlands | £381,031 | £201 |
| Yorkshire and Humberside | £320,841 | -£33,104 |
Source: Propertymark
“While the price of raw materials and labour generally trends upwards over time, from a consumer viewpoint, it can appear puzzling to see such year-on-year price fluctuations on new homes coming to the market”, Propertymark CEO Nathan Emerson said.
“It is important to consider house pricing is influenced by many complex metrics, which may include the initial cost of the land any such properties are built on, the type of property being constructed, the cost of design, and the intricacies of the planning approval process, as well as the availability of base materials at any particular time, to credit just a few considerations.”
The average price for a new instruction for a new-build house coming to market in the UK stands at £442,28, a £15,138 increase since Propertymark’s Q2 report.
“With an ever-growing population comes a defined commitment to ensure there is a sustainable mix of new dwellings to keep pace with future demand”, Emerson added.
“Across all nations, various governments have made key pledges to build ambitious numbers of new properties. However, it remains prudent to ensure such homes are designed and built to deliver realistic affordability and better certainty regarding long term pricing trends.”
