Foxtons has recorded a 16.5% increase in new homes sales volumes during the first half of 2025 compared with the same period last year, outperforming wider market trends for the sector.
The estate agent’s latest internal data also shows a 2.2% increase in the total value of new homes sold over the period.
First-time buyers were the most active group, accounting for 58.5% of sales, followed by landlords at 25.4% and home movers at 16.1%.
Mortgage purchases made up 72.6% of transactions, while cash buyers represented 27.4% of the market.
Foxtons noted that cash buyers, able to exchange in as little as 10 days, remain an important part of the market, particularly for landlords looking to capitalise on the busy summer letting period.
Joel Ellis-Duffy, new homes sales director at Foxtons, said: “The London property market has continued to show why it is a great long-term investment over the first six months of the year and the Foxtons New Homes team have made sure buyers, landlords and institutional investors have benefited from our expertise in navigating the market conditions.
“Looking forward, it’s reassuring to see that first-time buyers account for by far the largest proportion of our new homes activity and that a good proportion of homes are being sold off plan.
“It’s a positive indication for H2 that, now London buyers are benefitting from improvements to the mortgage market landscape, they are pushing on with their plans to purchase.
“We expect this trend to continue, particularly as the Government recently stated its intention to ease lending criteria further to support buyers.”
