The most recent market evaluation by Unlatch, the brand new houses gross sales development and aftercare platform for builders and housebuilders, reveals the place Birmingham’s new-build premium hotspots are and the place, due to this fact, housebuilders stand to take advantage of worthwhile investments.
Within the UK, the common new-build home sells for a worth of £261 per sq. foot. That is 11% greater than the common worth for an present dwelling which is £236 per sq. foot.
In Birmingham, nonetheless, there are alternatives for new-build builders to get an excellent larger bang for his or her buck, not least due to the vastly greater common asking worth for houses.
In Birmingham’s B18 postcode space – together with the much-loved Jewelry Quarter – the common present dwelling prices £191 per sq ft. The common new-build, nonetheless, prices £386; a premium of 102.1%.
Within the B32 postcode space – South West of town centre – present houses value a median of £197 per sq ft whereas new-builds are 71.6% costlier at £338.
In B11 – protecting Tyseley – the common present dwelling prices £157 in comparison with a median new-build worth of £267 making a new-build premium of 70.1%.
Important new-build premiums are additionally accessible in B16 (61.6%), B12 (52.3%), B66 (49.7%), B20 (46.5%), B26 (45.7%), B71 (44.9%), and B31 (39.7%).
All in all, there are 48 Birmingham postcode areas the place builders can obtain new-build premiums above the UK common of 11%.
Lee Martin, Head of UK for Unlatch mentioned, “Birmingham is presently benefiting from main regeneration – impressed in no small half by the current Commonwealth Video games – with thrilling initiatives discovered everywhere in the metropolis.
This implies that there’s a wholesome degree of new-build inventory and loads of keen consumers trying to snap it up, with these new houses commanding a wholesome premium for housebuilders focussing their efforts in the appropriate areas.”