Slough, Epping Forest, and Hastings have recorded remarkable increases in housebuilding completions for the year ending March 2024.
- According to Paragon Bank, Slough experienced a staggering 1,500% rise, completing 160 new homes this past year.
- Epping Forest saw a 629% increase with 510 new homes completed, while Hastings reported a 300% growth with 80 new homes.
- Luton and Norwich also experienced notable growth in housebuilding, ranking fourth and fifth respectively.
- Despite these successes, major regions like London and Scotland faced declines in their housebuilding numbers.
In the past year, several UK locations have seen notable changes in housebuilding activities. Slough leads the way with a dramatic 1,500% increase, equivalent to 160 new homes, compared to the previous year. This remarkable surge highlights Slough’s potential as an emerging area for property development.
Following closely, Epping Forest experienced a 629% increase, completing 510 new homes. This growth signifies a significant boost in the area’s residential development, capitalising on its proximity to London, which remains a draw for new residents.
Hastings also made headlines with a 300% increase, adding 80 new homes. Such figures indicate a growing appeal in coastal living, pointing to Hastings as an attractive location for new builds.
Notably, Luton and Norwich have also shown significant growth, with Luton achieving a 262% rise, resulting in 470 new homes. Norwich saw a 260% increase, completing 180 new homes. These trends showcase regional differences in development prospects and local government support.
However, challenges persist in some regions. London experienced a substantial decrease, dropping by 30.2% to 14,620 homes. Scotland followed with a 30% decline, reaching 19,650 homes. This downturn might reflect broader economic uncertainties impacting larger metropolitan areas.
Other areas such as Wales, Northern Ireland, and the South East observed declines of 17.8%, 15.7%, and 15.5% respectively. These figures suggest a variability in property demand and building capabilities across the UK.
Neal Moy of Paragon Bank comments on the trends, noting that areas near thriving urban centres see increased interest in development. The North and Midlands, he observes, are becoming hubs for dynamic residential projects, thriving on growing urban appeal.
Though some regions face setbacks, the resilience and adaptability of Slough, Epping Forest, and Hastings in housebuilding highlight shifting trends in UK property development.
