Asking prices for new-build homes in Britain rose over the past year despite a wider market slump, according to estate agent body Propertymark.
In Wales, asking prices for newly listed developments jumped by £43,494 or nearly 13 per cent between July 2025 and July 2026, pushing the average price of a new home to £381,716.
By contrast, overall housing asking prices across Great Britain fell 2 per cent this month to £364,999, representing an average drop of £7,360, according to separate data from property portal Rightmove. Rightmove stated it was the largest average August asking price reduction since 2018.
New-build buyers in Wales now face an asking price premium of almost £90,000 compared to second-hand properties, where the typical asking price stands at £291,349.
Regional price changes across Britain
Propertymark, a professional membership body representing estate agents across the UK, tracked asking price developments across all regions between July 2025 and July 2026.
Significant price increases were concentrated in relatively affordable regional markets. In the West Midlands, newly listed properties reached an average of £418,281 in July 2026, an 8.8 per cent increase of £33,838 from £384,443 a year earlier.
The North East recorded the lowest average new-build asking price in Great Britain at £345,867. However, values in the region rose by £27,878 or 8.8 per cent from £317,989 in July 2025, creating a £133,378 premium over non-new homes, which average £212,489.
In Scotland, asking prices for new-build homes rose 5.5 per cent or £20,287 over the year to £388,073, up from £367,786. Second-hand homes in Scotland cost almost £160,000 less, averaging £228,276.
Propertymark noted that the figures refer specifically to brand-new market instructions and that final sale prices may be negotiated down by buyers.
Supply constraints drive regional variance
Across Great Britain as a whole, the average asking price for a newly instructed new-build home edged up by £1,208 over 12 months, moving from £500,450 in July 2025 to £501,658 in July 2026.
Other areas saw modest increases. In the North West, prices rose £6,103 to £370,941 from £364,838, while the East Midlands saw a £5,642 rise to £365,835 from £360,193. Yorkshire and Humberside recorded a £4,848 increase to £347,846 from £342,998, and the South West registered a £17,608 rise to £460,005 from £442,397.
Higher asking prices in several regions coincide with a slump in new housing stock. Rightmove reported that the number of new-build homes entering the market in England recently dropped to its lowest level since 2017.
Housebuilders have scaled back new listings due to elevated construction costs and concerns regarding how high mortgage rates affect buyer appetite. The resulting supply shortfall has intensified competition among buyers for available new properties.
Price declines in southern England
In contrast to the gains in northern regions and Wales, new-build asking prices fell in parts of southern England.
The East of England saw the sharpest annual decline, with average newly instructed prices falling £18,713 or 3.6 per cent, from £523,714 in July 2025 to £505,001 in July 2026.
In London, asking prices across inner and outer London fell by £6,766 or 0.8 per cent, from £845,866 to £839,100. In the South East, prices dropped £3,300, falling from £552,109 to £548,809.
The downturn in southern markets has been linked to sluggish demand for apartments. Buyer confidence in the flat sector has been affected by concerns over leasehold arrangements, cladding safety, and escalating service charges.
Industry reaction and mortgage pressures
Nathan Emerson, chief executive of Propertymark, highlighted the stark differences across regional property markets.
"While these figures show an overall year-on-year rise in the average asking price of many new-build properties, regional disparities remain," Emerson said.
Emerson added: "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."
The property market faces wider headwinds from borrowing costs. Mortgage rates have risen as ongoing conflict with Iran pushed up inflation expectations and reduced prospects for immediate interest rate cuts.
Borrowers seeking new deals continue to consult FCA-regulated mortgage advisory services, such as London and Country Mortgages (L&C), registered under FCA number 143002, to navigate changing interest rates.
