Epsom and Ewell saw the largest increase in new build completions in the South East between 2021-2023, new data has revealed.
The study, conducted by architectural visualisation experts at Modunite, investigated ONS data on the number of new build completions from 2021-2022 and 2022-2023, to find which local authority has seen the biggest increase in new build completions year-on-year.
Key findings:
- Epsom and Ewell saw the largest increase in new build homes, at 133% – compared to the English average of 21%
- Tunbridge Wells ranks second with an increase of 130% new build completions
- West Oxfordshire had the biggest drop in house prices across England (13.10%)
- Milton Keynes saw the largest volume of new build homes in 2022-23 (2,480) in the South East, and the second-highest in England
For the full study, head to: https://www.modunite.com/a-review-of-englands-new-build-market/
The results:
| Local Authority | Average house price 2022 | Average house price 2023 | % decrease in house prices | 2021-2022 | 2022-2023 | % increase 2022-2023 |
|---|---|---|---|---|---|---|
| Epsom and Ewell | £543,670 | £533,491 | 1.90% | 90 | 210 | 133% |
| Tunbridge Wells | £454,657 | £446,490 | 1.80% | 270 | 620 | 130% |
| Hastings | £271,727 | £270,043 | 0.60% | 10 | 20 | 100% |
| Arun | £351,693 | £350,191 | 0.40% | 490 | 930 | 90% |
| Eastbourne | £298,348 | £296,227 | 0.70% | 40 | 70 | 75% |
| Dartford | £355,378 | £353,765 | 0.50% | 400 | 660 | 65% |
| Canterbury | £361,144 | £357,128 | 1.10% | 370 | 600 | 62% |
| Thanet | £315,384 | £310,705 | 1.50% | 290 | 410 | 41% |
| Chichester | £470,413 | £452,668 | 3.90% | 590 | 810 | 37% |
| Tonbridge and Malling | £438,694 | £431,931 | 1.60% | 270 | 370 | 37% |
Please find the full dataset here.
Modunite can reveal that Epsom and Ewell has seen the largest increase in new build completions in the South East, with a 133% increase from 2021-2022 compared with 2022-2023. Between 2021 and 2022 90 new builds were completed, in comparison to 210 in the following year. House prices in Epsom and Ewell also dropped by 1.90%, down to £533.491.
Hastings ranks third
Hastings ranks third. From 2021-2022, Hastings completed 10 new build homes, increasing by 100% by the end of 2023 with a total of 20. This is largely higher than than the average number of new build completions across all the local authorities in England (21%). House prices in Hastings have also fallen by 0.60% between 2022-2023, to an average of £270,043.
Tunbridge Wells ranks second, with a 130% increase in new build completions between 2021-2022 and 2022-2023. A total of 270 new builds were completed in 2021 -2022, in comparison to 620 the following year. House prices in Tunbridge Wells have also decreased by 1.80%, down to £446,490 on average.
Image: https://oaktondevelopments.co.uk/henrietta-place-new-build-homes-epsom-surrey/