North West & Wales dominate the new-build housing market

Market analysis by Warwick Estates shows that the North West of England has enjoyed the biggest pandemic price across all property types – detached, semi-detached, terraced, and flats – with Wales also showing strong growth. London, however, continues to lag behind.

Detached houses have seen the biggest price increase of all property types between the pre and post-pandemic years, increasing by as much as 28.5% and that the race for space means flats have seen the most modest price increases.

Between December 2019 and March 2022, the value of detached houses in the UK have increased by an average of 25.9%, or £91,000. Semi-detached homes have increased by 22% (£48,500), terraced homes are up 20% (£38,000), and the average price of a flat has increased by just under 10% (£20,000).

The biggest regional increase in the price of detached homes has been reported in the North West where they’re up 28.5% on pre-pandemic levels, followed by Wales (27.8%), Scotland (27.7%), and the South West (27.4%).

The biggest rise for semi-detached homes is also reported in the North West (24.6%), followed by the South West (24.5%), Wales (24.1%), Scotland (23.7%), and the East Midlands (23.7%).

The North West is top again for terraced homes having seen prices increase by 23.5%, followed by Wales (23.4%), Scotland (22.6%), the South West (22.1%), and the East Midlands (21.8%).

The value of flats has also increased the most in the North West (16.8%), followed by Northern Ireland (13.9%), Scotland (13.5%), East Midlands (12.4%), and Wales (11.7%).

London has reported the smallest price increases for all property types with detached up 17.7%, semi-detached up 15.7%, terraced up 13.8%, and flats up 4.1%.