New-build premium leads to resell loss

4 July 2023

One in eight new-build homes were resold at a loss in 2022, figures show1, with new builds twice as likely to make a loss compared with older homes. Because new builds are often sold at a premium, this can mean prices fall back to market rate when resold.

Flats make up more than four-fifths of loss-making sales, with experts saying the Help to Buy scheme is partly responsible for inflating prices.

  1. Hamptons, 2023

🚨 Data accurate as of the date of publication – 04.07.2023

🚨Think carefully before securing debts against your home.  Your home may be repossessed if you do not keep up repayments on your mortgage.

🚨 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.

 

Source: Quilter Financial Planning – Essentially Mortgages Q2 2023

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