93% of London’s new build transactions are flats – where can you buy new, but bigger?

February 7, 2020

It may come as no surprise that 93% of all London new build transactions in the last year were attributed to the purchase of flats, but the latest research by new home specialists, Stone Real Estate, has looked at where you have the best chance of buying bigger in the capital, without forsaking a shiny new build property.

Stone Real Estate analysed new build sales transaction records over the last year across London, looking at what proportion of sales was attributed to each property type.

The data shows that 93% of all transactions were listed as flats, with just 4% listed as terraced homes, 2% as semi-detached and a lowly 1% as detached properties.

When looking by borough, flats accounted for 100% of all new build transactions in boroughs starting with B – Barking and Dagenham, Barnet, Bexley, Brent and Bromley, no we’re not making that up.

Camden, the City of London, Westminster and Croydon also had 99% of all new build transactions attributed to the purchase of a flat.

So why are flats so popular in the new build sector?

Founder and CEO of Stone Real Estate, Michael Stone, commented:

“The flat is, of course, the most prominent type of new build property available in today’s market and this is for a number of reasons. First of all, space is scarce and so building up not only allows you to house more people on a plot, but it also means a better return for the housebuilder as they have more homes to sell. Price also dictates this trend to a large extent, with many buyers unable to afford a larger property, so the flat enables the delivery of a more affordable option to meet demand.

However, this popularity goes beyond supply and price point. Many new build developments are delivering a lifestyle in addition to the bricks and mortar, incorporating features such as onsite amenities, private gyms, cinema rooms and rooftop social areas. All of these additional benefits resonate with today’s new build London buyer and this is helping to drive the popularity of these developments and the flat.”

But flat living isn’t for everyone, so where should you look if you want to buy new, but don’t want to live in a flat?

Terraced New Builds

Believe it or not, there is one borough where the flat isn’t the most popular new build option. In Wandsworth, terraced new build properties accounted for 51% of transactions last year, making it the best borough for home buyers looking for a little more new build space.

Tower Hamlets (27%), Richmond (20%), Waltham Forest (20%), Sutton (18%), Redbridge (14%) and Merton (10%) also saw the number of new build transactions attributed to terraced housing hit 10% or above of all transactions, making them good options to look further afield than a flat.

Semi-Detached

As your search for more room expands, the chances of finding a new build in London start to diminish but hunt hard enough and you will find your ideal new build property.

Waltham Forest saw a healthy 30% of all new build sales last year fall under the semi-detached category, with Southwark (13%) and Sutton (10%) also ranked high when it came to semi-detached new build availability.

Detached

Perhaps the Holy Grail of the new build sector in London, finding a detached home will be a stretch given they only account for 1% of all new build transactions.

However, there is hope and Southwark is your best bet when house hunting. Last year, detached homes accounted for 14% of all new build transactions, the highest of any London borough.

Lambeth (6%), Newham (5%) and Richmond (4%) also offered a new build detached offering to a degree, while detached homes accounted for 1% of transactions in Sutton, Redbridge, Hillingdon, Lewisham and Hammersmith and Fulham.

Michael Stone continued…

“The beautiful thing about the London property market is the diverse offering of properties on offer and while flats dominate the new build sector for the large part, there are still plenty of pockets where you can secure the quality and value for money of a new build home, but with a property size and style to suit you.”

Percentage of new build homes sold by property type
Borough
Detached
Flat
Semi-Detached
Terraced
BARKING AND DAGENHAM
0%
100%
0%
0%
BARNET
0%
100%
0%
0%
BEXLEY
0%
100%
0%
0%
BRENT
0%
100%
0%
0%
BROMLEY
0%
100%
0%
0%
CITY OF LONDON
0%
99%
1%
0%
CAMDEN
0%
99%
0%
1%
CITY OF WESTMINSTER
0%
99%
0%
1%
CROYDON
0%
99%
0%
1%
EALING
0%
98%
0%
2%
GREENWICH
0%
95%
2%
2%
HACKNEY
0%
95%
1%
5%
ENFIELD
0%
95%
0%
5%
HAMMERSMITH AND FULHAM
1%
95%
1%
4%
HARROW
0%
94%
2%
3%
HARINGEY
0%
94%
0%
6%
HAVERING
0%
94%
0%
6%
HILLINGDON
1%
93%
2%
5%
HOUNSLOW
0%
91%
1%
8%
KINGSTON UPON THAMES
0%
90%
3%
8%
ISLINGTON
0%
90%
1%
9%
KENSINGTON AND CHELSEA
0%
90%
1%
9%
LAMBETH
6%
89%
0%
4%
LEWISHAM
1%
88%
1%
9%
MERTON
0%
87%
3%
10%
NEWHAM
5%
85%
3%
8%
REDBRIDGE
1%
83%
2%
14%
RICHMOND UPON THAMES
4%
75%
1%
20%
SOUTHWARK
14%
72%
13%
1%
SUTTON
1%
71%
10%
18%
TOWER HAMLETS
0%
65%
8%
27%
WALTHAM FOREST
0%
51%
30%
20%
WANDSWORTH
0%
49%
0%
51%
All
1%
93%
2%
4%

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Home and Living

How homeowners can fight back against rising energy bills

New research from Yopa warns that millions of homeowners are set to be hit with a 14% jump in energy bills this summer, wiping out recent savings and piling fresh pressure on household finances. In response, Yopa has analysed which home improvements are most effective at reducing energy use, looking at both the typical savings delivered…
Read More →
Breaking News

Homes selling as fast as last year

First time buyers in outer London hit hardest as higher borrowing costs and  high stamp duty costs weigh on sales times   The average time to sell a home is just 1 day longer than last year at 33 days, despite higher mortgage rates and 2 months of conflict in the Middle East However, areas…
Read More →
Estate Agent Talk

How to Pick the Ideal Utilities for your Business

Sorting out utilities might not be the most exciting part of running a business, but it is one of those things that quietly affects everything else. Whether it is your electricity, gas, water or internet, these services keep your business moving day to day. Getting them right can help you stay in control of costs…
Read More →
Letting Agent Talk

Advice for London landlords and tenants ahead of the Renters’ Rights Act implementation

Phase one of the Renters’ Rights Act (RRA) comes into force on 1 May 2026, and with it brings about the most significant overhaul of the private rental sector in a generation. While the Act will see new responsibilities introduced, it will also offer an opportunity for landlords to strengthen their practices with a clear…
Read More →
Estate Agent Talk

Budget-friendly ways to boost your chances of a successful spring house sale

With many households feeling the pressure of changing global economic conditions, tighter finances, and the high costs associated with moving, such as Stamp Duty, legal fees and removals, selling a home can currently feel like challenge. At the same time, spring traditionally brings a surge in buyer activity. Longer days and better weather tend to encourage more viewings,…
Read More →
Letting Agent Talk

Expert Reacts To Renters’ Rights Act Ahead of Changes This Week

The Renters’ Rights Act comes into force this week (1st May), introducing major reforms to tenancy structures, eviction rules, and tenant protections across England. The changes will reshape how landlords manage properties and how tenants experience private renting, with significant implications for student private rentals and the wider rental market. Ahead of implementation, Owen Dixon,…
Read More →