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South dominates for high growth new build locations

Richmond upon Thames hero.jpg

Nearly three out of four of England’s fastest growing local authority districts for new build developments are located in London or the South East, analysis by Paragon Development Finance has revealed.

Analysis of Government data shows that 14 out of the 20 local authorities that saw the greatest increase in new build housing completions in the past year were in the capital or wider South East. The number increased to 16 when you included broader southern regions, including the South West and the East of England.

Richmond-upon-Thames in Surrey recorded the greatest percentage increase in new build completions during the year to 31 March 2021 when compared to the same period the previous year. Completions rose 272% to 931 homes during the period. Redbridge in Essex recorded a 171% increase in new build completions to 1,522, whilst Guildford in Surrey was up 158% to 859 homes.

New homes in Trafford, Manchester totalled 932, up 143%, whilst Newcastle Under Lyme also made it into the top 10 with a 98% increase in completions to 611.

At the other end of the scale, Lewisham in London recorded the greatest percentage fall, down 89% to 131 homes, with Halton (-78%), Norwich (78%), Coventry (-73%) and Worthing (-73%) also down.

Overall, new build homes completed in the period in England fell 11% to 194,063 as it coincided with when Covid-19 first hit development sites.

In terms of the areas with the highest level of housing completions, Manchester topped the list at 3,840 (down -1.8%), followed by Birmingham at 3,350 (-15%). Tower Hamlets recorded 3,248 new homes (-28%), with Salford and Leeds completing 3,142 and 2,509 homes respectively (-19% and -19%).

Location 19/20 new build completions 20/21 new build completions % change County
Richmond Upon Thames 250 931 272 Surrey
Redbridge 562 1522 171 Essex
Guildford 333 859 158 Surrey
Trafford  384 932 143 Greater Manchester
Southampton UA 308 708 130 Hampshire
Haringey 616 1317 114 Greater London
St Albans 237 496 109 Hertfordshire
North Hertfordshire 221 455 106 Hertfordshire
Enfield 393 797 103 Greater London
Newcastle-under-Lyme 308 611 98 Staffordshire
Merton 279 493 77 Surrey
Isle of Weight 242 425 76 IoW
South Staffordshire 216 376 74 Staffordshire
South Somerset 569 976 72 Somerset
Thanet 287 469 63 Kent
Crawley 269 436 62 West Sussex
Hackney 568 919 62 Greater London
Ashford 638 1030 61 Kent
Mid-Suffolk 403 643 60 Suffolk
Brighton and Hove UA 391 614 57 East Sussex

Robert Orr, Paragon Development Finance Managing Director, said: “Although overall completion levels fell during the period, this reflects a time when it was more difficult for building sites to operate. We saw our clients quickly return to full operation within weeks of the first lockdown, so I would expect completions next year to return to their upward trajectory.

“Looking at a more granular level, it is interesting to see homes in the outer London boroughs and the broader South East increase at a faster rate than other locations across the country. This plays well to more people looking for greater levels of space or greenery and I would be interested to see how this plays out across the rest of the country next year as developers respond to changing buyer demands.”

For further information contact:

Michael Clarke
Head of Media Relations
Tel: 07740090746

Notes to editors:

Data drawn from Department for Levelling Up, Housing and Communities datasheet 123. All areas with fewer than 200 homes completed in 2019/20 excluded

Paragon Bank provides competitive property development finance up to the value of £30 million across England and Wales. Paragon Bank Development Finance Limited is a member of the Paragon Banking Group which is a FTSE 250 group based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group has over £12 billion of assets under management and manages over 450,000 customer accounts. Paragon Development Finance Limited. Registered in England number 03901943. Registered office 51 Homer Road, Solihull, West Midlands, B91 3QJ.