The estate agent platform, Exp, dug into data around the number of dwellings completed each year across each region of England over the last 10 years, as well as specifically the last 12 months.
For the 2022-23 financial year, a total of 174,600 new homes were completed across England. The South East saw the largest number of new homes completed at 30,960, while on a percentage basis London was the strongest with an 18 per cent uplift, compared with an overall two per cent jump over the year.
This was followed by the East of England at 17 per cent, East Midlands at seven per cent with South West and Yorkshire and the Humber both coming to five per cent. At the other end of the scale, the North West saw the largest percentage drop at 17 per cent. What’s more, with the South East saw the largest number of new homes completed, this actually represented a two per cent drop on the prior year.
While London had a strong year, over the last decade it has lagged behind the rest of the country. The annual average for new homes reaching the market over this period sits at 4.1 per cent, yet the capital is the only region to have seen negative movement. Completions dropped by an average of 0.3 per cent annually over the decade.
This is in contrast with the North West, which saw an average annual gain of 10 per cent, followed by the West Midlands (eight per cent) and the South East (four per cent).
Adam Day, head of Exp UK, said that housing delivery is a “controversial topic”, with the current government making little meaningful impact in addressing the housing shortage.
He continued: “But it’s not just top line housing delivery that creates an out of kilter housing market, as our research shows, the level of new homes completed not only varies from one region to the next in terms of volume, but also the increase in this volume.
“So while the London market may have enjoyed a very strong year, it actually ranks as the worst region when it comes to the delivery of new homes on a long-term basis.”
