New build asking prices rise despite sluggish housing market as Wales sees 13% jump in a year
Asking prices on new-build homes have increased by tens of thousands in some areas of Britain, despite the housing market being in the doldrums.
The asking price of a new build in Wales has risen by a huge £43,494 between July 2025 and July 2026, according to data from estate agent membership body Propertymark.
The average price of a newly listed home is now £381,716, an increase of almost 13 per cent.
Across the housing market as a whole, asking prices fell by 2 per cent this month to £364,999, representing a drop of £7,360 according to separate Rightmove data published this week.
The property portal said it was the largest average asking price drop for house prices in August since 2018, Rightmove said.
New-build buyers in Wales face paying a premium of almost £90,000 for a brand new home, as Propertymark says the typical asking price of a non-new property is £291,349.
The picture is the same in other more affordable areas of Britain.
Brand new: Housebuilders are upping their asking prices on new developments in many areas of Britain, data suggests
In the West Midlands, new properties are being listed for sale at an average of £418,281, compared to £384,443 this time last year – an 8.8 per cent or £33,838 increase.
The number of new-build homes coming to the market in England recently slumped to its lowest level since 2017 according to Rightmove, due to higher building costs and housebuilder concerns over how higher mortgage rates will affect buyer appetite.
Fewer new-builds coming to the market means that prices can rise as demand exceeds supply, sparking more competition for homes that are being sold.
The North East is home to the cheapest new builds with an average asking price of £345,867, according to Propertymark’s data.
However, the cost has risen by £27,878 or 8.8 per cent in the past year and it is a huge £133,378 premium compared to the average non-new build asking price of £212,489.
And in Scotland, the asking price of a new home has risen by £20,287 in the last year to £388,073, a rise of £20,287 or 5.5 per cent.
Homes on the second-hand market cost almost £160,000 less at £228,276 on average.
The figures refer to new-build homes that are brand new to the market. The asking prices may be later reduced or buyers may make lower offers.
| AREA | AVERAGE PRICE – JULY 25 | AVERAGE PRICE – JULY 26 | INCREASE/DECREASE |
|---|---|---|---|
| GB wide average | £500,450 | £501,658 | £1,208 |
| Scotland | £367,786 | £388,073 | £20,287 |
| Wales | £338,222 | £381,716 | £43,494 |
| East Midlands | £360,193 | £365,835 | £5,642 |
| East of England | £523,714 | £505,001 | -£18713 |
| London (inner and outer London) | £845,866 | £839,100 | -£6766 |
| North East | £317,989 | £345,867 | £27,878 |
| North West | £364,838 | £370,941 | £6,103 |
| South East | £552,109 | £548,809 | -£3300 |
| South West | £442,397 | £460,005 | £17,608 |
| West Midlands | £384,443 | £418,281 | £33,838 |
| Yorkshire and Humberside | £342,998 | £347,846 | £4,848 |
South east sees new build prices fall
The story is different in parts of the south of England, which have seen asking prices fall on new-build properties.
The largest decline was recorded in the East of England, where the average price of a newly instructed new-build property fell by £18,713, from £523,714 in July 2025 to £505,001 in July 2026, a 3.6 per cent fall.
In London, the average asking price was £839,100 last month according to Propertymark, a fall of £6,766 or 0.8 per cent annually.
In the South East, the average price of a newly instructed new-build property fell by £3,300, from £552,109 to £548,809.
This may have been affected by the sluggish market for flats, which has suffered from buyer anxiety about leasehold, cladding and service charges.
Nathan Emerson, chief executive at Propertymark, said: ‘While these figures show an overall year-on-year rise in the average asking price of many new-build properties, regional disparities remain.
‘With the Budget due on 28 October 2026, any housing-related announcements will be closely watched, particularly measures aimed at helping more first-time buyers purchase a home.’
