New build property prices have fallen across five UK regions between April 2024 and April 2025, according to data released by Propertymark, the trade body representing estate agents.
The figures show price reductions in Wales, the North West, South East, South West, and Yorkshire and Humberside, whilst five other regions recorded price increases during the same period.
Regional variations
Wales experienced the largest decline, with average asking prices for new build properties dropping from £385,488 to £365,789, a reduction of approximately 5%. The South West saw the smallest decrease, falling from £461,165 to £458,068.
In contrast, the East Midlands, East of England, London, North East, and West Midlands all recorded growth in new build prices. Scotland registered the smallest increase, with prices rising from £362,919 to £368,011.
Nathan Emerson, Chief Executive at Propertymark, attributed the regional variations to changing work patterns. “We live in a very different world than only ten years ago. The home working revolution continues to reformat core requirements and demands from people regarding where they both aspire and can realistically choose to move to,” he said.
Emerson noted that commuting requirements have diminished for many workers: “Long gone is the defined need for many people to commit to a daily commute to a specific location to earn a living and now many people are enjoying the freedom of greater choice regarding their locality.”
Price determinants
Propertymark identified several factors influencing new build pricing, including development location, planning system requirements, property type, and the costs of materials and labour. These variations occur against a backdrop of modest growth in estate agency activity reported in recent months.
The divergent regional trends suggest buyers and investors may find opportunities in areas where prices have declined, whilst regions showing growth may reflect stronger local demand or constrained supply. The data indicates that the UK new build market remains fragmented, with local economic conditions and employment patterns driving significant price variations across different parts of the country.