A study by money.co.uk has analysed community and Government dwelling stock data across the UK to reveal the local authorities where the number of new build properties are increasing faster than the population.
Maldon, in the East of England, has seen a rapid increase in new builds over the last five years, going from just 30 new homes to 490.
In comparison, Maldon’s population has increased steadily from 62,743 to 65,401 over the same period.
This meaning that new builds in the area have increased by 1,529% more than its population.
In second place is Tamworth in the West Midlands with a 817% increase in new builds over the last five years, from 60 in 2015 to 550 in 2020.
Tamworth’s population actually decreased very slightly over the same period, meaning there are plenty of vacant homes available.
In the South East, West Oxfordshire saw a slight increase in its population of 3%.
This is compared to a massive 677% increase in completed new builds, from 130 in 2015 to 1,010 in 2020.
West Oxfordshire, therefore, saw a 674% larger increase in new builds than in the population during the five years recorded.
The UK authority where new builds are increasing slower than the population is the City of London which has seen a 100% decrease in new builds in the past 5 years.
160 new builds were constructed in the area in 2015, however, none were completed by 2020.
On the other hand, its population increased by a substantial 25% in this time.
For more research, visit: https://www.money.co.uk/mortgages/first-time-buyer-mortgagesÂ
