With mortgage rates reaching a 15-year high and interest rates going up, buying a new home has become more difficult for many people across the UK but in some areas like Ealing, new homes remain popular according to data from the Office of National Statistics.
A-Plan Insurance, which looked at the number of sales of new builds in small areas with between 400 and 1,200 households in England, found during 2022, 665,279 homes were sold of which newly built properties represented 2.83% of the total.
In Ealing during 2022, a total of 2,600 properties were sold in small areas in the borough of which 207 homes were new builds, making up 7.96% of the total.
In London and the highest overall in England was Tower Hamlets. Of the 2,706 homes sold in these areas during 2022, 664 were new builds, making up nearly 25%.
A spokesperson from A-Plan Insurance commented: “Approximately 18,841 newly built properties were sold throughout all of England’s small areas in 2022. Developers provide homes of all shapes and sizes for prospective buyers, from detached, semi-detached and terraced houses to flats and maisonettes.”
They added: “As families and individuals continue to struggle with the weight of the cost-of-living and increasing mortgage rates, it is promising to see that some of the country’s less populated areas continue to thrive with the sales of new homes at a great rate.”
