Over the last decade, London ranked as the worst performing region in England when it comes to the average number of new home completions each year, market analysis from eXp UK revealed.
eXp analysed data on the number of dwellings completed each year, across each region of England, and how these regions have performed both annually and over the last 10 years.
Last year (2022-23), 174,600 new homes were delivered across England, with the South East seeing the largest number, at 30,960.
On an annual basis, 2% more homes were delivered across the nation with London topping the table in this respect, with an 18% uplift in new homes completed.
The East of England also saw a considerable increase of 17%, followed by the East Midlands (7%), South West (5%) and Yorkshire and the Humber (5%).
The number of new dwellings completed fell by 17% across the North West compared with the previous year, with the West Midlands (-6%) and South East (-2%) also down year-on-year.
London ranked as the worst performing region, despite posting a strong year-on-year performance.
Over the past 10 years, the average amount of new homes reaching the market across England increased by 4.1% each year.
London was the only region to see negative movement, with new completions falling by 0.3% each year on average over the last decade.
The North West saw an average increase of 10% per year, followed by the West Midlands (8%) and the South East (4%).
Adam Day, head of eXp UK, said: “Housing delivery is, and always has been, a controversial topic and we’re yet to see the Government make any meaningful impact when it comes to addressing the current housing crisis.
“But it’s not just top line housing delivery that creates an out of kilter housing market, as our research shows, the level of new homes completed not only varies from one region to the next in terms of volume, but also the increase in this volume.
“So, while the London market may have enjoyed a very strong year, it actually ranks as the worst region when it comes to the delivery of new homes on a long-term basis.”
