The latest data from the latest research from new build snagging experts, HouseScan, has revealed where the new build sector has made the most significant contribution to housing stock across the property market over the last year.
HouseScan analysed the recently released net additional dwellings data for 2019-2020 from the Ministry of Housing Communities and Local Government, looking at where the delivery of new homes has provided the biggest boost to total dwellings stock when taking the wider context of the market into account.
Not just the sheer volume of new homes delivered.
The research shows that across England, the 243,770 net homes delivered has brought a 1% boost to the total levels of dwelling stock across the market. London has seen the largest boost regionally, with 41,718 new homes increasing dwellings stock by 1.16%. The South East (1.04%) and East of England (1.03%) have also seen some of the largest increases in overall housing stock as a result of new build delivery over the last year.
When drilling into the regional figures, the new build sector has provided the biggest increase in the number of dwellings across the City of London. While just 297 new homes have been delivered, estimated housing stock levels sit at just 6,506 meaning the new build sector has increased housing availability by 4.57% in the City.
Tower Hamlets has also benefited from a notable boost due to the delivery of new homes. The borough has seen 4,564 new homes delivered, a 3.76% improvement to total housing stock. Bracknell Forest (3.36%), Salford (3.24%), Newham (2.88%), South Derbyshire (2.83%), Greenwich (2.67%), Vale of White Horse (2.39%), South Oxfordshire (2.29%) and Wokingham (2.27%) also rank within the top 10 areas to have enjoyed the best boost to housing stock via new homes delivery.
At the opposite end of the scale, just 13 new builds have been delivered in Adur, helping to increase housing availability by only 0.05% in the area. Southend (0.12%) and Portsmouth (0.12%) also rank amongst the lowest areas where a new build housing boost is concerned.
Founder and Managing Director of HouseScan, Harry Yates, commented:
“The successful delivery of new build housing delivery isn’t solely focussed around volume, and each area of the market will present its own challenges in terms of land availability and building restrictions. So while we desperately need more properties to address our appetite for homeownership, it’s important to analyse the delivery of new homes not just on total properties delivered but also within the wider context of a given area While the City of London has seen a very low volume of homes delivered, it has actually made the biggest difference in terms of the overall housing stock in the City and so in this respect, the area has seen the biggest contribution from the new build sector.”