£57bn worth of new homes have hit the market in the last year – here are the hottest housebuilder spots

February 27, 2020
new build homes essex uk

The latest research from new homes specialists, Stone Real Estate, has looked at where is currently home to the most lucrative new build markets for UK housebuilders based on the number of new homes hitting the market in the last year.

The figures show that 203,900 new build homes were completed in the last year across the UK and with the average new build selling for £282,253, that’s over £57bn worth of new homes delivered by UK housebuilders.

The vast majority of these have been completed in England with 169,020 new homes delivered at an average new build value of £302,642, accounting for £51bn worth of new build value across the UK. Wales has seen the lowest level with 5,780 new builds totalling a value of £1.2bn.

Regionally, the most valuable housebuilder hotspots have been the South East, where completed properties hitting the market in the last year total a value of over £12bn. London is hot on the South East’s heels though, with 19,360 completed new homes bringing nearly £9.5bn in value to the capital’s new build sector.

However, on a more granular level, it’s Greater Manchester that takes the crown as the most valuable new build housebuilder hotspots in the last year. With 7,080 new homes completed to the tune of £205,237 in value, the area has seen a total of £1.4bn alone hitting the market in new build property values.

West Yorkshire (£1.1bn) and the West Midlands (£1bn) have also been some of the housebuilding hotspots in terms of value entering the market in the last 12 months.

Tower Hamlets (£830m), Newham (£767m), Barnet (£750m) and Hackney (£647m) also make the top 10 most valuable housebuilding hotspots for new home delivery in the last year.

Founder and CEO of Stone Real Estate, Michael Stone, commented:

“It’s very encouraging to see that despite the backdrop of political turbulence and slower house price growth over the last year, the nation’s housebuilders have continued to deliver a staggering amount of stock to the market.

Not only does the completion of these homes help meet homebuyer demand, but the value of these properties is also helping to stimulate the market and rejuvenate house price growth after months of Brexit uncertainty.

London and the South East may have seen the largest decline in price growth as a result of this uncertain market landscape, but despite this, they lead the pack in terms of the value of new homes being delivered to the market. This provides a very firm foundation on which to build and will help accelerate price growth now that buyers are returning to the market with the intent to transact.”

Market value of new homes completed in the last year by nation
Location
Dwellings completed annually
Average NB price
Total value
England
169,020
£302,642
£51,152,473,040
Wales
5,780
£210,375
£1,215,968,155
Scotland
21,290
£204,970
£4,363,811,169
Northern Ireland
7,810
£161,058
£1,257,866,446
United Kingdom
203,900
£282,253
£57,551,405,076
Market value of new homes completed in the last year by region
Location
Dwellings completed annually
Average NB price
Total value
South East
32,060
£375,221
£12,029,594,888
London
19,360
£490,004
£9,486,477,287
East of England
19,230
£360,326
£6,929,078,160
South West
20,300
£298,494
£6,059,437,215
West Midlands
16,800
£263,613
£4,428,702,486
North West
20,130
£216,447
£4,357,069,620
East Midlands
15,970
£257,647
£4,114,620,142
Yorkshire and the Humber
14,000
£202,407
£2,833,697,140
North East
9,050
£185,211
£1,676,159,929
Highest market value of new homes completed in the last year by area
Location
Dwellings completed annually
Average NB price
Total value
Greater Manchester
7080
£205,237
£1,453,080,617
West Yorkshire
5660
£203,809
£1,153,557,751
West Midlands
4400
£236,267
£1,039,574,333
Tower Hamlets
1820
£456,009
£829,935,621
Wiltshire
2400
£328,790
£789,096,901
Newham
1600
£479,573
£767,317,350
Barnet
1390
£539,832
£750,366,917
Wokingham
1510
£493,479
£745,153,212
Tyne and Wear
3140
£214,448
£673,367,772
Hackney
1120
£577,953
£647,306,882
Lowest market value of new homes completed in the last year by area
Location
Dwellings completed annually
Average NB price
Total value
Hastings
20
£240,757
£4,815,149
Stevenage
20
£372,893
£7,457,867
West Somerset
30
£275,730
£8,271,914
Hyndburn
90
£93,320
£8,398,834
Gosport
40
£235,265
£9,410,581
Adur
30
£341,363
£10,240,880
Rossendale
50
£219,151
£10,957,537
Eastbourne
40
£295,657
£11,826,281
Copeland
90
£160,261
£14,423,497
West Devon
70
£211,654
£14,815,787
Market value of new homes completed in the last year by London borough
Borough
Dwellings completed annually
Average NB price
Total value
Barking and Dagenham
330
£386,810
£127,647,319
Barnet
1390
£539,832
£750,366,917
Bexley
210
£338,685
£71,123,803
Brent
1010
£469,850
£474,548,057
Bromley
810
£458,644
£371,501,336
Camden
160
£831,889
£133,102,177
City of London
170
£889,483
£151,212,043
City of Westminster
210
£1,068,206
£224,323,174
Croydon
1270
£357,248
£453,704,739
Ealing
710
£479,551
£340,480,877
Enfield
230
£376,407
£86,573,701
Greenwich
930
£403,812
£375,545,561
Hackney
1120
£577,953
£647,306,882
Hammersmith and Fulham
380
£674,824
£256,433,295
Haringey
240
£507,663
£121,839,104
Harrow
690
£414,870
£286,260,476
Havering
240
£405,854
£97,404,952
Hillingdon
380
£446,731
£169,757,915
Hounslow
410
£365,650
£149,916,486
Islington
370
£600,445
£222,164,735
Kensington And Chelsea
190
£1,159,952
£220,390,832
Kingston upon Thames
120
£523,215
£62,785,838
Lambeth
840
£539,965
£453,570,812
Lewisham
600
£401,652
£240,991,103
Merton
110
£596,954
£65,664,919
Newham
1600
£479,573
£767,317,350
Redbridge
470
£554,433
£260,583,329
Richmond upon Thames
130
£551,249
£71,662,384
Southwark
1130
£506,471
£572,312,187
Sutton
260
£397,807
£103,429,906
Tower Hamlets
1820
£456,009
£829,935,621
Waltham Forest
470
£473,335
£222,467,501
Wandsworth
380
£597,771
£227,153,123

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