Demand for new build homes bounces back

Demand for new build has rebounded by 66% since the property market reopened on the 13th May, Zoopla research has found.

Demand recovered nationwide, with the North East recording a 139% rebound, the West Midlands 121%, and East Midlands 108%.

Persimmon Homes, one of the UK’s largest housebuilders, reported a 215% month-on-month uplift in demand via Zoopla buyer leads.

Mark Cook, group sales & marketing director, Persimmon Homes, said: “Since the market reopened, buyer demand has rebounded at a remarkable rate.

“We feel this bodes well for the weeks and months ahead, and look forward to helping more buyers – from first-timers and seconds steppers to downsizers – find their dream home.”

Of note, Wales recorded a 74% rebound in demand after an initial fall in early March to 21st June, despite the fact its market didn’t reopen until 22nd June.

In Scotland even though the market didn’t reopen until 29th June, the rebound in demand for new homes recovered 33% over the same period.

While resale properties have also registered a significant recovery in demand, the rebound only reached 46% in the week to 21st June.

First-time buyers-re driving forward a significant proportion of demand for new homes.

While first-time buyer demand for new homes fell -68% between 8th March and 5th April, it has since recovered 87% in the period to the 21st June.