New London homes sales hit record high as UK buyers return

Kasmira Jefford
Follow Kasmira
RETURNING confidence in the UK housing market has led to a jump in the number of Britons buying new homes off-plan, figures out today show.

Domestic buyers accounted for 57 per cent of purchasers in the first half of 2013 compared with 47 per cent in the first half of 2012, according to research by property consultancy CBRE.

“Until this year it has been more difficult to raise debt and people have been nervous about the state of the economy and exposing themselves to the property market,” Charles Leigh, senior director at CBRE, said.

“But our data shows that there is a subtle change in the number of UK-based buyers now buying off plan thanks to better availability of finance and returning market confidence,” he added.

Demand for new-build properties in London reached a record high in the period, with three in five homes – or 60 per cent – now sold before they are built, CBRE said.