Revealed! The areas where new-builds are cheaper than second-hand homes

New-build homes may typically command a premium compared with the second-hand market but new research has revealed areas where this isn’t the case.

Property portal Zoopla has revealed 30 areas in the UK where the asking price of a three-bed new-build home is up to £120,000 cheaper than a resale property

Leading the way is the cathedral city of Winchester, where a 3-bed new-build home is £118,500 (22%) cheaper than an equivalent resale home.

This is followed by nearby New Forest, where a 3-bed new-build home is £45,000 cheaper than a 3-bed resale property. 

Value for money can also be found in new-build properties in Chichester, where new-builds are £35,000 cheaper than a resale property) on average, as well as Stroud where they were found to be £20,000 cheaper on average. 

Daniel Copley, Consumer Expert at Zoopla, said: “There’s often a perception that new-build properties are more expensive than resale homes - however, our data shows that there are in fact many areas of the country where new-builds are cheaper than resale homes. 

“Two thirds of buyers either want a new home or would consider buying new. New-build homes offer additional benefits over buying a second hand property, most notably better energy efficiency and the possibility to purchase your home using a scheme like shared ownership as well as the availability of special offers and incentives.”