New build
A new build is a home sold for the first time after it was built. HM Land Registry flags each sale as new build (Y) or established (N).
A new build is a home that has just been built and is being sold for the first time, usually by the developer. A home built some time ago and sold on by its owner is an established home.
Every sale in HM Land Registry's Price Paid Data carries a new build flag. Y means a newly built property and N means an established residential building.
New builds in sold prices
New homes often sell at different prices from older homes nearby. They are built to current standards, need little work at first and may come with features older homes lack. Developers may also offer incentives, such as paying some of the buyer's costs.
A single new development can also add many sales to a postcode in a short time. Sales on a new estate are often registered in batches, so several can appear in the same monthly release. A run of new build sales can lift or lower an area's median price for reasons that have little to do with the rest of the market.
House Price Monitor postcode pages mark each new build sale in the list of recent sales, so you can see when a development is shaping the figures.
Comparing new and established homes
For a fair comparison, look at new build sales against other new builds, and established homes against established homes. A new house on an estate is a poor guide to the price of an older house on the next road, even if both are the same property type.
When a new home is sold on for the first time, it is recorded as an established home. Comparing the first sale with the resale shows how the price has moved once the home is no longer new. Our guide to working out house price change explains how to measure that kind of change.
Buying a new build
Most new homes come with a structural warranty, usually lasting ten years. Many developers are registered with the New Homes Quality Board and follow its code, which lets buyers take problems they cannot settle with the developer to the New Homes Ombudsman Service.
A new home needs an Energy Performance Certificate like any other. Buyers can still commission a home survey. Many also pay for a snagging inspection, which checks for unfinished work or defects before or soon after completion.
| Land Registry field | Old/New |
| New build code | Y |
| Established home code | N |
| Resale of a new home | Recorded as established |
Related terms
Property type · Price Paid Data · Median price · Comparables · Home survey · Energy Performance Certificate