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

Rate this post

Do you need professional advice or a no obligation quote?

Ask us for a quote

Articles

Podatek od zysków kapitałowych Navigating Capital Gains Tax – need to knows
21 June 2024
Capital Gains Tax (CGT), the levy on profits from the sale of assets such as...
First Time Buyers First-time buyers overlooked?
20 June 2024
The Spring Budget came as a disappointment for anyone looking to get a foot on...
Equity realise Equity release trends
19 June 2024
Statistics from the Equity Release Council highlight the trends seen in the market last year...
Insurance quote