The new homes market is booming..

Just over 174,000 new homes were completed across England in the year up to June 2019, up 8% year on year, and this trend continued throughout the rest of 2019 according to new data released by the Ministry of Housing Communities and Local Government.

New home completions rose over the year across all regions except London, where completions were 9% lower than the previous year. The Welsh Government report 5,800 new homes were completed across Wales over the same time period, 5.6% lower year on year.

In terms of regions, the North West witnessed the largest surge in completions, up over 4,000 year on year. However southern regions, London, the South East, South West and East of England, together accounted for over 75% of all completions.

Figures are in line with household projections, which estimate household numbers in England to increase by 159,000 per year (2016 – 2041). However, numbers remain below the mooted figure of 300,000 new homes required annually for affordability pressures to ease.

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