As both teams prepare to meet tomorrow at the Euros new research from Warwick Estates shows that new build developers and investors can be confident of great success on either side of the Scottish border, with the sector enjoying strong growth in both nations…
As England and Scotland take to the pitch at Wembley for their second group game of Euro 2020, Warwick Estates has looked at how the two line up when it comes to their 16 strongest performers for new build property price growth. England boasts a very strong new build sector with the average price for a new build home now £323,339 following yearly growth of 3%. In Scotland, where yearly price growth sits at 1.9%, the average new build price currently sits at £223,069.
But, despite England coming out on top in this matchup, if we dig down into the team sheets, we see that both nations have got some high-quality talent that should catch the eye of any savvy developers or investors. England’s strongest new-build market is Liverpool where new build house prices are up 18.9% annually with the average new build now valued at £210,612. The Derbyshire Dales has seen the second strongest rate of annual new build price growth at 17.9%, while Brent in North West London comes third with a 16.2% increase. Other strong English performers include Bolsover (15.1%), Rossendale (13.5%), and Northumberland (13.4%), Eden (13%), Melton (12.9%), Gedling (12.8%) and Allerdale (12.6%).
In Scotland, the best performing new build region is East Ayrshire where the average new build house price is currently £153,721 having increased 12.3% annually. Next comes South Ayrshire with an average price of £210,296 after 11.7% growth in the last year, and then Perth and Kinross where new build house prices are up 11.2%. Glasgow (10.5%), South Lanarkshire (10.3%), the Shetland Islands (10%), Fifre (10%), Dumfries and Galloway (9.9%), Moray (9.9%) and Renfrewshire (9.9%) complete the starting line up.
So while the English new build sector is clearly the bookies favourite, developers and investors can be confident of a solid performance and returns from both sides.
COO of Warwick Estates, Emma Power, commented:
“The new-build markets in both Scotland and England is full of up and coming talent, emerging from some of the least expected regions. The East Midlands, for example, provides six of the top 16 English new-build markets where annual price growth is concerned, with the North West also accounting for an impressive seven. You can’t write off the Scottish market though, with some equally strong performances being seen across the new-build market making the nation an attractive proposition for developers and investors alike.“