With the number of new homes registered to be built per annum in the UK rising by more than 80% over the last decade, new homes specialist Stone Real Estate has looked at where is currently home to the most lucrative new build markets.

The figures show that 203,900 new build homes were completed in the last year across the UK, with the average new build selling for £282,253 – equating to over £57 billion worth of new homes delivered.

Those that have been completed in England made up the vast majority, with 169,020 new homes delivered at an average new build value of £302,642, accounting for £51 billion worth of new build value across the UK.

Wales has seen the lowest level, with 5,780 new builds totalling a value of £1.2 billion.

On a regional scale, the most valuable housebuilder hotspots have been in the South East, where completed properties that hit the market over 2019 totalled a value of over £12 billion. London is hot on its heels, though, with 19,360 completed new homes bringing nearly £9.5 billion in value to the capital’s new build sector.

However, on a more granular level, Greater Manchester takes the crown as the most valuable new build housebuilder hotspot in the last year. The area has seen 7,080 new homes completed to the tune of £205,237 in value, and a total of £1.4 billion alone has hit the market in new build property values.

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

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

“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,” says Michael Stone, founder and chief executive officer of Stone Real Estate.

“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.”

He says although London and the South East have seen the largest decline in price growth due to an uncertain market landscape, 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,” he concludes.

The market value of new homes completed in the last year by nation can be seen below: