New-build prices rise twice as fast as older homes cost

The cost of a new-build home soared by 25.4% last year, reaching £367,219 in November 2021, according to the latest Land Registry data. Meanwhile, existing homes increased in cost by 8.6%. The housing market has seen sustained growth since the coronavirus struck, largely due to an imbalance between supply and demand. But the data shows that new-build homes are outstripping existing properties when it comes to price - despite several controversies in recent years. Millions of homeowners were trapped in leasehold contracts with expensive ground rents that made their properties unsellable, for example, while many were also covered in unsafe fire cladding which meant the value of the properties plummeted. 

The Independent (05/04/2022)