New-build properties currently constitute 8.1% of all homes available for sale across Great Britain, according to data from UK Property Development Limited. This figure highlights a limited choice of newly built properties for buyers.
The findings coincide with the government's announcement of its 'Your First Home' scheme. This initiative is designed to assist first-time buyers in purchasing new-build properties from participating developers, offering government equity loans of 20% and allowing for deposits as low as 2.5%.
Andy Morrison, director of UK Property Development, cautioned that the 'Your First Home' scheme could increase demand for new-build properties. He noted that London and Wales show significant new-build shortages, with new homes making up 6.3% of listings in London and 3.9% in Wales. Brighton has the lowest proportion at 2.3%.
Conversely, Liverpool records the highest proportion of new-build properties among the analysed locations, with 16.5% of all available listings. Glasgow follows at 13.2%, and Edinburgh at 11.8%.