New build properties are some of the most popular types of property investment, with more regeneration and exciting developments hitting the UK year after year. Some of the major UK property investment hotspots offer plenty of opportunity for those seeking new build investments, with a wide range of Liverpool and Manchester new builds. But is buying a new build a good investment, and what should buy to let investors know before selecting their new build property?
The New Build Market
The new build market in the UK is thriving. The government has announced plans to build one million new homes by 2020, with construction levels reaching the highest in ten years as of 2018. The number of new build homes that have been built between 2014 and 2015 has grown by 25%, making it clear that the market is showing no signs of slowing down.
New build properties are definitely capturing the attention of a large number of first-time buyers and buy to let investors alike. Research shows that there are now more people buying their first home in England, with around 72,800 first-time buyers purchasing property during 2016’s second quarter.
A study by Sell House Fast, an online estate agent, identified that new build property has seen a 16% year on year growth with around 163,250 new homes completed across England by the end of 2017.