Newly built homes extend price gap by 11%

Buyers are paying on average £7,147 more to live in a newly built home than they did a decade ago. The price gap between new homes and resales has widened by 11% since 2010, according to House Scan. Ten years ago the average new-build cost £204,319, 19% more than the average older property, but they are now valued at £314,242 on average, 30% more than a resale. The smallest increase in the new-build premium has been in London (5.5%), where a decade ago buyers paid 3.2% less to buy a new home over an older one.

The Times (28/01/2022)