Analysis by UK Property Development (UKPD), using UK House Price Index data for August 2026, found that the average new-build property costs £346,611 across Great Britain, compared with £269,332 for existing homes. This represents a premium of £77,279, or 28.7%.
Of the areas where new-build homes were cheaper, Trafford recorded the largest discount. New-build properties cost £225,065 on average, compared with £398,594 for existing homes – a difference of 43.5%.
Sevenoaks followed with a 43.2% discount, while the London borough of Redbridge recorded a 39.4% discount.
Other London boroughs where new-build homes were cheaper included Bromley, where prices were 34.8% lower than existing properties, Hounslow, at 34.6% lower, and Barnet, at 30.1% lower.
Outside London, Three Rivers in the East of England recorded a 36.1% discount for new-build properties, while Southend-on-Sea recorded a discount of 35.7%.
Why new-build property investment is appealing to a new generation of landlords
Sponsored by BM Solutions
England has 317 local authorities, compared with 32 in Scotland and 22 in Wales.
New-build premiums exceed 100% in some areas
However, some markets recorded considerably higher new-build premiums than the national average.
Hastings recorded the largest premium, with new-build homes averaging £581,709, compared with £236,013 for existing properties. This represents a difference of £345,696, or 146.5%.
Hartlepool, Chesterfield, Redcar and Cleveland, East Ayrshire, Broxbourne and North Ayrshire also recorded new-build premiums of more than 100%.
Andy Morrison, director of UK Property Development, said: “Our research shows that the price difference between new-build and existing properties varies considerably depending on where buyers are looking. While new-build homes cost more on average nationally, there are 69 local authority areas where the average price is lower than that of existing stock.
“With first-time buyers in focus following the Autumn Budget and Labour’s confirmation of its Your First Home initiative, understanding local price differences is particularly important. These figures offer a useful starting point for exploring local markets, although average prices can be influenced by the types of properties being sold. Buyers should compare like-for-like homes before drawing conclusions about value.”
