Where can you still buy a new build for less than the £250,000 stamp duty holiday threshold?

The latest research from Warwick Estates has revealed which pockets of the national new build market still offer homebuyers the opportunity of a stamp duty saving right up until the final September deadline.

While the initial stamp duty holiday for homes valued up to £500,000 has now passed, homebuyers purchasing up to the sum of £250,000 will still pay no stamp duty right up until the end of September.

However, it’s no secret that the new build market carries a property price premium compared to existing homes. In fact, the average new build house price is currently £348,298 in England, 30% higher than the average price for an existing property.

This would suggest that the average new build homebuyer may find it tricky to find a property that sits below the current and final stamp duty holiday threshold and at a regional level this may be the case.

Just two regions are currently home to an average new build house price below £250,000, the North East (£217,985) and Yorkshire and the Humber (243,791).

However, when analysing the market at local authority level, Warwick Estates found that there is still some hope. In fact, 23% of local authority districts in England are home to a new build average house price that still sits below £250,000.

You can see the full table below but the list includes areas from all over England including Northumberland, Plymouth, Great Yarmouth, Manchester, Ipswich, West Devon, Lancaster, Southampton, Liverpool, Scarborough, Norwich, Nottingham, Bradford, Gateshead and Stoke

COO of Warwick Estates, Bethan Griffiths, commented:

“New build homes will always attract a premium when compared to the wider market and so those looking to climb the new build ladder will always need a little more in the savings pot.

However, there seems to be a common misconception that new build homes are vastly unaffordable but as the figures show, the average new build home costs less than £250,000 across nearly a quarter of all areas in England.

So not only can a new build home be purchased at a relatively affordable price point, but those currently in the market for one have a good chance of still securing a stamp duty free sale.”

Data sourced from the Gov.uk - UK House Price Index (New Build vs Existing). March 2021 - latest available data.
Location	Average New Build House Price
England	£348,298
East Midlands	£302,701
East of England	£404,852
London	£525,927
North East	£217,985
North West	£262,731
South East	£420,199
South West	£348,888
West Midlands Region	£305,790
Yorkshire and The Humber	£243,791
Data sourced from the Gov.uk - UK House Price Index (New Build vs Existing). March 2021 - latest available data.

Table shows the areas of England where the current average new build house price is still below £250,000
Location	Average New Build House Price
Northumberland	£246,397
Fenland	£245,637
City of Plymouth	£243,533
Great Yarmouth	£241,469
Manchester	£239,678
Telford and Wrekin	£238,884
Ipswich	£238,831
West Devon	£238,777
Allerdale	£238,665
Newark and Sherwood	£238,329
Knowsley	£237,455
Sandwell	£236,847
Tameside	£234,525
Tamworth	£233,614
Rotherham	£233,322
Wolverhampton	£233,189
Lancaster	£231,215
Torbay	£231,043
Southampton	£230,143
Salford	£229,586
Kirklees	£229,494
North East Lincolnshire	£228,064
Eden	£226,530
St Helens	£225,820
Liverpool	£225,450
Broxtowe	£224,828
Rochdale	£224,768
Erewash	£224,701
Oldham	£223,654
Wakefield	£221,607
Scarborough	£220,679
Walsall	£219,680
Ashfield	£219,404
South Tyneside	£218,370
Norwich	£217,586
Sefton	£217,305
Middlesbrough	£215,115
Sheffield	£214,295
City of Nottingham	£213,251
City of Derby	£213,168
Sunderland	£212,758
Bolsover	£209,730
Wyre	£209,356
North Lincolnshire	£209,066
Carlisle	£206,690
Bassetlaw	£206,421
Bradford	£205,342
Blackburn with Darwen	£201,666
Darlington	£201,116
Mansfield	£200,151
Redcar and Cleveland	£200,115
West Lindsey	£197,991
Boston	£197,314
Bolton	£197,074
South Holland	£194,183
Newcastle-under-Lyme	£193,940
Wirral	£191,211
East Lindsey	£190,763
Barrow-in-Furness	£190,762
City of Kingston upon Hull	£189,873
Gateshead	£187,368
Pendle	£185,122
Doncaster	£183,153
Copeland	£181,950
Stoke-on-Trent	£181,278
Lincoln	£181,066
Barnsley	£179,817
County Durham	£169,866
Hartlepool	£166,313
Stockton-on-Tees	£163,047
Blackpool	£162,375
Burnley	£134,834
Hyndburn	£105,888