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Home Press releasesProperty marketLabour’s ambitious housing targets could boost market value by £161.6bn in five years

Labour’s ambitious housing targets could boost market value by £161.6bn in five years

The latest research London lettings and estate agent, Benham and Reeves, has revealed that should Labour honour its commitments to deliver 370,000 new homes a year, it would not only boost housing delivery by 22%, but it could bring a £161.6bn boost in value to the housing market across England.

Benham and Reeves looked at the increase in housing delivery proposed by Labour via reforms to the National Planning and Policy Framework, where across the nation is set to see the biggest boost in new housing stock if this proposal is met, and the potential added value it could bring to the property market*.

£161.6bn boost for the property market over the next five years
The research shows that across England the proposed increase in new homes delivered from 305,223 per year to 371,541 would boost housing supply by 21%.

Over the last five years, the average new-build home has increased by an average of 3.5% per year in value and Benham and Reeves estimates that over the next five years, £161.6bn worth of property could reach the market should Labour deliver on its promise of 371,541 new homes per year.

Regional breakdown
The North East is set to see the largest boost to housing stock should Labour come good on its promise, with the proposed method estimated to increase the level of new homes reaching the market by 99%.

London is the only region expected to see a reduction in new housing delivery under new proposals, with the number of new homes built each year forecast to fall by 18%.

Despite this reduction, London is still expected to see by far the most value added to the property market via the construction of new homes, with an estimated boost of £46bn over the next five years.

Local authorities set to benefit to the greatest extent
Redcar and Cleveland is the local authority set to see the biggest boost to housing stock under Labour’s new housing delivery proposal. The area is set to see the level of new homes climb to 642 per year – an increase of 1,338% versus the 45 per year delivered via the current method.

Burnley (+625%), Westmorland and Furness (531%) and Hyndburn (528%) are also expected to see an increase of over 500% in the number of new homes delivered under new Labour plans.

When it comes to the highest market value of potential new stock delivered over the next five years, Kensington and Chelsea sits top. Not only is the borough set to see a 209% increase in the number of new homes delivered each year under new proposals, but over five years, this new housing stock is estimated to bring an additional £5.1bn in added value.

Director of Benham and Reeves, Marc von Grundherr, commented:

“Our new Labour Government has been ambitious from the get go when it comes to the proposed shake up of housing delivery targets and not only could we see a very notable boost to the number of new homes reaching the market, but over the next five years these new homes would also bring a sizable boost to the overall value of the property market.

Of course, some areas are set to benefit to a far greater extent than others and it’s interesting to see that, under new proposals, London is the only region expected to see a decline in housing delivery. This is despite the fact that it’s probably one of the worst hit areas with respect to a shortage of housing to meet demand.

It’s also important to note that housing delivery has sat well below any Government target set for quite some time now and so whilst the new targets set out by Labour are admirable, it means very little if they aren’t honoured.”

REGION – Table shows the increase in new homes delivered each year under the current and
proposed changes, the average increase of a new-build homes value over the last five years and the potential
total value added of new housing stock over the next five years
Location Region Current Method Proposed Method Est change % Est NB ave 5 year growth % per year (2019 to 2024) Current NB price – latest Est NB price in 1 year Est total value – proposed method housebuilding mandate / targets
North East North East 6,123 12,202 99.3% 5.8% £270,594 £286,244 £3,492,778,476
North West North West 21,497 37,817 75.9% 7.6% £331,732 £357,034 £13,501,825,153
Yorkshire and The Humber Yorkshire and The Humber 18,699 27,433 46.7% 5.3% £298,441 £314,238 £8,620,481,185
South West South West 28,203 40,343 43.0% 3.3% £430,062 £444,394 £17,927,975,105
South East South East 51,251 69,060 34.7% 3.1% £501,209 £516,660 £35,680,393,578
East Midlands East Midlands 20,793 27,382 31.7% 3.8% £377,085 £391,579 £10,722,292,039
West Midlands West Midlands 24,734 31,754 28.4% 6.1% £324,881 £344,672 £10,944,552,801
East of England East of England 35,101 44,858 27.8% 2.7% £483,794 £496,943 £22,291,854,294
London London 98,822 80,693 -18.3% 1.9% £559,107 £569,703 £45,971,258,888
England Nation 305,223 371,541 21.7% 3.5% £420,532 £435,076 £161,648,441,702

LOCAL AUTHORITY – Table shows the increase in new homes delivered each year under the current and proposed changes, the average increase of a new-build homes value over the last five years and the potential total value added of new housing stock over the next five years
Local Authority Name Region Current Method Proposed Method Est change % Est NB ave 5 year growth % per year (2019 to 2024) Current NB price – latest Est NB price in 1 year Est total value – proposed method housebuilding mandate / targets
Redcar and Cleveland North East 45 642 1337.8% 8.3% £267,023 £289,188 £185,752,003
Burnley North West 51 369 625.1% 7.7% £167,346 £180,207 £66,510,199
Westmorland and Furness North West 227 1,430 530.8% 3.8% £310,859 £322,792 £461,628,312
Hyndburn North West 50 313 528.0% 7.1% £142,178 £152,326 £47,732,567
Cumberland North West 244 1,217 398.4% 3.8% £262,469 £272,432 £331,484,251
Blackpool North West 147 632 328.4% 7.5% £205,299 £220,691 £139,421,113
Blackburn with Darwen North West 134 564 319.7% 6.0% £253,066 £268,307 £151,248,612
Cheshire West and Chester North West 532 2,017 278.9% 6.2% £388,946 £413,082 £833,245,090
North East Lincolnshire Yorkshire and The Humber 190 706 272.4% 5.3% £277,719 £292,361 £206,395,327
West Lancashire North West 166 605 264.4% 6.9% £382,273 £408,727 £247,188,222
Tamworth West Midlands 123 444 261.1% 5.2% £298,474 £314,095 £139,414,700
Redditch West Midlands 143 489 242.0% 4.9% £401,201 £420,796 £205,887,104
Darlington North East 152 500 228.6% 6.3% £259,451 £275,695 £137,913,213
South Ribble North West 169 546 222.6% 7.2% £345,299 £370,231 £202,086,355
Northumberland North East 549 1,769 222.1% 5.6% £307,706 £325,005 £574,907,049
Staffordshire Moorlands West Midlands 159 497 213.3% 3.6% £331,958 £343,920 £170,987,605
North Yorkshire Yorkshire and The Humber 1,361 4,232 210.9% 4.5% £357,701 £373,729 £1,581,713,424
Kensington and Chelsea London 1,381 4,271 209.2% 1.5% £1,178,652 £1,196,431 £5,110,060,315
Pendle North West 124 382 208.9% 5.6% £218,060 £230,327 £88,016,780
South Staffordshire West Midlands 223 676 203.6% 6.0% £435,533 £461,674 £312,133,590
Wyre Forest West Midlands 211 617 192.4% 5.1% £320,582 £337,063 £207,849,695
Ribble Valley North West 113 330 190.6% 6.3% £406,720 £432,434 £142,498,729
North East Derbyshire East Midlands 224 622 177.8% 3.5% £396,580 £410,294 £255,405,427
Knowsley North West 255 705 176.7% 8.1% £319,766 £345,547 £243,619,122
Worthing South East 322 862 167.6% 7.2% £432,272 £463,421 £399,338,968
Halton North West 203 540 165.4% 8.5% £354,585 £384,649 £207,759,302
Doncaster Yorkshire and The Humber 525 1,388 164.2% 7.7% £235,134 £253,339 £351,725,472
Derbyshire Dales East Midlands 216 571 164.1% 5.3% £384,263 £404,620 £231,172,344
Chesterfield East Midlands 211 558 163.8% 4.7% £333,379 £348,931 £194,648,387
Lichfield West Midlands 289 753 160.4% 5.3% £309,496 £325,997 £245,391,688
Cheshire East North West 977 2,530 159.0% 4.1% £448,722 £466,918 £1,181,470,275
Bassetlaw East Midlands 260 665 155.7% 6.0% £264,023 £279,832 £186,076,681
East Riding of Yorkshire Yorkshire and The Humber 817 2,088 155.6% 5.4% £328,260 £345,900 £722,085,740
Sefton North West 578 1,466 153.6% 6.5% £281,526 £299,954 £439,636,713
East Lindsey East Midlands 437 1,091 150.0% 5.9% £252,718 £267,687 £292,175,413
Hartlepool North East 157 388 147.8% 5.8% £190,099 £201,210 £78,068,953
Hart South East 297 734 147.0% 3.8% £594,059 £616,733 £452,761,309
Preston North West 269 662 145.8% 6.7% £344,716 £367,909 £243,397,521
Dudley West Midlands 657 1,594 142.8% 7.0% £336,350 £359,802 £573,500,291
Wirral North West 728 1,755 141.0% 5.9% £226,897 £240,340 £421,697,967
High Peak East Midlands 243 585 140.9% 5.8% £370,690 £392,168 £229,223,185
Sunderland North East 512 1,208 136.0% 4.6% £257,407 £269,279 £325,397,599
Middlesbrough North East 251 589 134.4% 5.5% £264,527 £279,195 £164,432,331
North Warwickshire West Midlands 163 381 133.3% 4.9% £336,858 £353,280 £134,640,743
South Tyneside North East 306 706 130.8% 4.9% £280,084 £293,902 £207,463,358
Rushmoor South East 265 606 128.8% 4.3% £384,252 £400,666 £242,875,575
Wyre North West 280 637 127.4% 6.2% £263,245 £279,594 £177,982,750
Rotherham Yorkshire and The Humber 544 1,233 126.7% 6.9% £298,599 £319,167 £393,648,545
Cannock Chase West Midlands 248 555 123.8% 6.1% £373,058 £395,762 £219,724,903
Elmbridge South East 653 1,443 121.2% 1.9% £862,993 £879,742 £1,269,840,933
Stafford West Midlands 358 782 118.6% 5.1% £443,639 £466,335 £364,583,100
Gateshead North East 417 909 118.1% 5.4% £234,471 £247,192 £224,658,059
Rutland East Midlands 123 264 114.1% 5.9% £513,113 £543,582 £143,445,378
West Berkshire South East 495 1,057 113.5% 4.5% £470,112 £491,334 £519,240,911
St. Helens North West 391 825 111.1% 8.6% £306,881 £333,418 £275,218,513
Mansfield East Midlands 259 540 108.7% 6.7% £262,319 £279,935 £151,077,064
North Lincolnshire Yorkshire and The Humber 359 746 107.9% 5.3% £271,394 £285,830 £213,235,869
Bolsover East Midlands 195 404 107.1% 7.9% £273,763 £295,506 £119,474,536
Telford and Wrekin West Midlands 463 953 105.8% 7.2% £311,104 £333,534 £317,825,891
Surrey Heath South East 320 658 105.7% 3.3% £361,295 £373,293 £245,576,898
Bath and North East Somerset South West 717 1,466 104.4% 3.8% £598,750 £621,562 £910,973,282
Westminster London 1,862 3,792 103.7% 3.6% £1,199,469 £1,242,778 £4,712,794,820
South Oxfordshire South East 579 1,179 103.6% 5.0% £581,508 £610,523 £719,659,502
Rossendale North West 179 361 101.8% 7.4% £370,222 £397,511 £143,331,960
New Forest South East 729 1,465 100.8% 3.2% £403,719 £416,634 £610,234,481
Stratford-on-Avon West Midlands 553 1,098 98.6% 3.1% £563,267 £580,919 £638,013,280
Maldon East of England 276 544 97.0% 5.3% £466,389 £490,917 £267,014,465
Kingston upon Hull, City of Yorkshire and The Humber 536 1,053 96.5% 4.1% £245,463 £255,645 £269,311,763
Oadby and Wigston East Midlands 198 389 96.5% 4.3% £388,270 £404,963 £157,447,102
Reigate and Banstead South East 644 1,264 96.3% 4.4% £776,345 £810,177 £1,024,381,639
Castle Point East of England 349 685 95.9% 5.2% £450,594 £473,898 £324,390,338
County Durham North East 1,129 2,210 95.8% 5.7% £215,886 £228,191 £504,221,602
Amber Valley East Midlands 351 682 94.5% 6.4% £376,438 £400,356 £273,130,745
Stockton-on-Tees North East 444 861 94.1% 6.0% £200,233 £212,317 £182,803,843
Cotswold South West 504 979 94.1% 6.6% £784,645 £836,653 £818,908,693
Waverley South East 710 1,374 93.5% 2.3% £582,145 £595,500 £818,461,650
Melton East Midlands 192 370 92.4% 5.4% £403,724 £425,415 £157,520,776
Shropshire West Midlands 1,070 2,059 92.4% 5.4% £359,907 £379,192 £780,760,843
Rochford East of England 356 675 89.6% 3.7% £767,242 £795,688 £536,701,358
King’s Lynn and West Norfolk East of England 554 1,042 88.2% 4.9% £362,426 £380,114 £396,011,898
East Suffolk East of England 905 1,696 87.3% 3.1% £480,593 £495,468 £840,354,815
East Hampshire South East 575 1,074 86.7% 3.8% £567,297 £588,760 £632,477,985
Wakefield Yorkshire and The Humber 923 1,721 86.4% 8.0% £292,976 £316,514 £544,685,671
Nuneaton and Bedworth West Midlands 421 774 84.0% 6.2% £417,144 £442,836 £342,686,930
North Devon South West 425 779 83.1% 3.7% £471,363 £488,894 £380,856,019
Torridge South West 288 528 83.1% 5.0% £407,057 £427,411 £225,675,312
Bromsgrove West Midlands 386 704 82.5% 5.1% £501,754 £527,575 £371,460,527
Woking South East 436 795 82.2% 2.7% £566,702 £581,935 £462,630,447
Wiltshire South West 1,917 3,476 81.3% 4.1% £438,229 £456,335 £1,586,089,452
Forest of Dean South West 330 597 80.8% 3.6% £419,726 £434,627 £259,613,284
Worcester West Midlands 324 584 80.3% 5.9% £385,320 £408,128 £238,520,669
Wychavon West Midlands 532 959 80.3% 4.3% £496,981 £518,201 £496,860,663
Malvern Hills West Midlands 338 609 80.3% 4.0% £422,621 £439,362 £267,485,036
Newcastle-under-Lyme West Midlands 330 593 79.9% 5.7% £237,853 £251,304 £149,025,585
West Devon South West 248 446 79.6% 3.7% £293,364 £304,191 £135,597,606
South Hams South West 487 875 79.6% 5.0% £573,007 £601,851 £526,663,940
Plymouth South West 784 1,408 79.6% 3.2% £312,591 £322,671 £454,317,627
Herefordshire, County of West Midlands 773 1,375 77.9% 5.3% £440,650 £463,839 £637,843,760
Fylde North West 257 457 77.8% 6.9% £405,940 £433,958 £198,455,864
Test Valley South East 524 921 76.0% 4.8% £492,552 £516,275 £475,657,144
Wokingham South East 748 1,308 74.8% 5.7% £659,704 £697,415 £912,302,294
St Albans East of England 885 1,544 74.6% 1.5% £526,270 £534,183 £824,835,838
North West Leicestershire East Midlands 357 621 74.3% 3.8% £387,981 £402,755 £250,274,462
Stockport North West 1,097 1,906 73.7% 4.8% £348,501 £365,093 £695,779,700
Havant South East 508 874 72.0% 4.0% £479,936 £499,043 £436,154,087
Broxtowe East Midlands 384 658 71.1% 8.7% £285,702 £310,680 £204,354,933
Blaby East Midlands 329 559 69.7% 5.5% £465,381 £490,830 £274,158,550
North Norfolk East of England 556 943 69.5% 4.2% £458,620 £477,656 £450,359,023
Lancaster North West 415 698 68.1% 7.9% £311,610 £336,334 £234,663,409
Babergh East of England 456 763 67.2% 1.8% £554,758 £564,495 £430,434,977
Mid Suffolk East of England 450 753 67.2% 2.3% £382,131 £391,057 £294,286,866
Newark and Sherwood East Midlands 437 730 67.0% 6.4% £293,107 £311,739 £227,640,489
Epping Forest East of England 725 1,210 66.8% 2.0% £716,903 £731,044 £884,460,167
Torbay South West 599 997 66.7% 5.7% £295,441 £312,292 £311,504,253
Warwick West Midlands 653 1,080 65.3% 5.0% £539,793 £566,983 £612,241,066
Mid Devon South West 346 571 65.2% 4.7% £363,140 £380,237 £217,167,732
Mole Valley South East 460 757 64.7% 4.3% £743,657 £775,368 £587,306,795
Cornwall South West 2,707 4,454 64.5% 6.2% £346,034 £367,524 £1,637,048,445
Winchester South East 676 1,099 62.5% 3.6% £690,312 £715,396 £785,981,888
Ipswich East of England 466 755 62.2% 3.6% £286,898 £297,095 £224,351,961
West Oxfordshire South East 549 889 61.9% 7.3% £433,347 £465,019 £413,437,549
Great Yarmouth East of England 354 569 60.9% 5.8% £308,451 £326,331 £185,749,018
Fareham South East 498 794 59.5% 4.8% £445,923 £467,138 £370,861,990
Hinckley and Bosworth East Midlands 432 689 59.3% 5.6% £422,671 £446,358 £307,339,532
Lincoln East Midlands 289 459 59.0% 5.7% £231,528 £244,712 £112,311,481
North Kesteven East Midlands 434 690 59.0% 3.7% £361,994 £375,357 £259,012,740
West Lindsey East Midlands 331 527 59.0% 6.8% £242,011 £258,526 £136,115,139
Chichester South East 760 1,206 58.6% 5.0% £558,932 £587,061 £708,192,937
Tunbridge Wells South East 660 1,045 58.4% 3.6% £464,257 £481,008 £502,708,373
Sevenoaks South East 704 1,113 58.1% 4.6% £537,845 £562,479 £626,237,182
Isle of Wight South East 703 1,104 57.0% 5.9% £341,884 £362,162 £399,652,024
West Suffolk East of England 765 1,200 56.9% 2.6% £452,362 £464,123 £556,971,355
Hammersmith and Fulham London 1,580 2,467 56.1% -0.1% £760,511 £760,025 £1,875,226,264
Cambridge East of England 687 1,068 55.5% 2.1% £690,923 £705,249 £753,475,483
Windsor and Maidenhead South East 866 1,341 55.0% 2.5% £544,629 £558,026 £748,549,395
Cherwell South East 706 1,095 55.0% 3.4% £489,070 £505,818 £553,711,774
East Staffordshire West Midlands 417 644 54.6% 5.1% £387,102 £406,667 £261,886,400
Chelmsford East of England 913 1,406 54.0% 2.4% £468,096 £479,108 £673,616,867
Cheltenham South West 545 833 52.8% 4.6% £465,932 £487,549 £406,018,033
Islington London 1,465 2,231 52.3% 2.5% £725,713 £743,619 £1,658,973,026
Solihull West Midlands 866 1,317 52.2% 4.8% £422,125 £442,478 £582,893,869
Boston East Midlands 250 379 51.7% 4.0% £255,515 £265,734 £100,659,468
Wandsworth London 2,559 3,880 51.6% 2.1% £694,882 £709,750 £2,754,163,022
Erewash East Midlands 376 569 51.3% 7.4% £285,389 £306,616 £174,393,638
Dorset South West 2,168 3,230 49.0% 2.5% £373,263 £382,728 £1,236,391,816
Teignbridge South West 717 1,066 48.6% 4.4% £445,969 £465,483 £496,238,130
Guildford South East 743 1,102 48.4% 4.8% £706,420 £740,590 £816,300,113
Stoke-on-Trent West Midlands 704 1,043 48.1% 6.3% £227,017 £241,424 £251,764,809
Vale of White Horse South East 633 937 48.1% 3.6% £624,863 £647,531 £606,924,578
Hastings South East 490 722 47.4% 4.9% £337,573 £354,198 £255,845,308
Breckland East of England 625 917 46.6% 3.7% £375,433 £389,221 £356,736,733
Somerset South West 2,669 3,891 45.8% 3.9% £411,707 £427,672 £1,664,209,741
Warrington North West 791 1,146 44.9% 5.6% £329,205 £347,541 £398,259,576
Gedling East Midlands 460 665 44.6% 6.5% £371,298 £395,478 £263,169,937
North Tyneside North East 745 1,075 44.3% 7.9% £392,801 £423,726 £455,531,956
Epsom and Ewell South East 569 817 43.5% 3.9% £593,867 £617,126 £504,057,063
Walsall West Midlands 906 1,294 42.8% 4.1% £266,236 £277,193 £358,550,713
Buckinghamshire South East 2,912 4,122 41.6% 2.9% £538,814 £554,608 £2,286,303,677
Dover South East 559 789 41.2% 2.7% £437,045 £448,764 £353,936,270
Horsham South East 917 1,294 41.1% 3.3% £555,567 £573,880 £742,548,498
Eastleigh South East 645 902 39.9% 3.0% £399,630 £411,758 £371,502,634
Bexley London 1,295 1,801 39.1% 3.8% £440,078 £456,637 £822,419,370
Crawley South East 476 661 38.8% 5.0% £372,640 £391,114 £258,464,258
Harborough East Midlands 510 706 38.5% 4.1% £452,522 £471,132 £332,409,492
Oxford South East 762 1,051 38.0% 2.6% £428,672 £439,873 £462,243,686
Huntingdonshire East of England 874 1,203 37.6% 3.5% £327,760 £339,328 £408,126,384
Basingstoke and Deane South East 828 1,137 37.3% 4.7% £401,903 £420,613 £478,202,591
Broadland East of England 639 877 37.2% 2.8% £437,464 £449,623 £394,417,141
South Norfolk East of England 686 942 37.2% 4.2% £436,827 £455,383 £428,812,672
Norwich East of England 603 828 37.2% 5.8% £280,421 £296,772 £245,713,522
Gosport South East 339 465 36.9% 2.5% £305,327 £312,839 £145,329,422
Rushcliffe East Midlands 609 831 36.4% 4.2% £492,479 £513,405 £426,729,423
Bracknell Forest South East 563 767 36.1% 3.7% £545,427 £565,345 £433,503,701
Stroud South West 620 844 36.1% 4.4% £504,074 £526,293 £444,143,867
Ashfield East Midlands 446 604 35.5% 6.7% £277,901 £296,408 £179,066,984
Tendring East of England 770 1,043 35.4% 4.1% £381,648 £397,329 £414,309,380
Brentwood East of England 511 691 35.2% 0.5% £456,966 £459,029 £317,359,818
Braintree East of England 813 1,098 35.0% 3.7% £440,514 £456,888 £501,782,505
South Holland East Midlands 427 573 34.1% 4.9% £244,848 £256,801 £147,064,751
South Kesteven East Midlands 687 912 32.8% 5.2% £347,809 £365,801 £333,602,542
Barnsley Yorkshire and The Humber 831 1,092 31.4% 6.6% £227,929 £242,972 £265,330,193
Hertsmere East of England 731 959 31.3% 1.9% £484,582 £493,972 £473,650,942
Lambeth London 2,321 3,041 31.0% 2.7% £630,606 £647,928 £1,970,473,722
South Gloucestershire South West 1,317 1,717 30.3% 4.6% £456,276 £477,222 £819,418,831
Calderdale Yorkshire and The Humber 742 964 29.9% 5.1% £324,335 £340,994 £328,860,893
Dacorum East of England 1,016 1,313 29.3% 3.6% £611,407 £633,658 £831,925,813
Tonbridge and Malling South East 820 1,057 28.8% 2.3% £540,703 £553,123 £584,593,404
East Devon South West 893 1,146 28.3% 5.7% £479,374 £506,525 £580,391,812
Kirklees Yorkshire and The Humber 1,595 2,043 28.1% 6.6% £288,780 £307,788 £628,802,945
Exeter South West 642 815 27.0% 5.3% £538,467 £567,027 £462,197,844
Harlow East of England 514 648 26.0% 4.4% £703,798 £735,055 £476,192,004
Trafford North West 1,288 1,607 24.8% 4.7% £383,102 £401,044 £644,436,284
Manchester North West 2,152 2,686 24.8% 6.9% £295,784 £316,103 £849,125,238
Oldham North West 840 1,049 24.8% 9.0% £293,493 £319,872 £335,474,877
Wigan North West 1,259 1,572 24.8% 8.3% £353,657 £383,119 £602,105,810
Bury North West 845 1,054 24.8% 6.8% £393,483 £420,070 £442,757,020
Tameside North West 980 1,223 24.8% 8.5% £322,333 £349,805 £427,776,267
Rochdale North West 826 1,031 24.8% 9.5% £316,273 £346,169 £356,791,343
Salford North West 1,182 1,475 24.8% 5.8% £306,187 £323,986 £477,833,559
Bolton North West 1,073 1,340 24.8% 8.0% £266,641 £288,025 £385,858,724
Swindon South West 1,005 1,252 24.5% 6.3% £384,969 £409,108 £512,054,428
Basildon East of England 1,039 1,291 24.3% 2.9% £489,547 £503,980 £650,771,833
Colchester East of England 1,043 1,290 23.7% 4.5% £397,787 £415,651 £536,073,113
Mid Sussex South East 1,039 1,276 22.8% 4.2% £636,806 £663,650 £846,833,464
York Yorkshire and The Humber 1,020 1,251 22.7% 5.6% £448,755 £473,933 £592,916,355
Portsmouth South East 897 1,098 22.4% 5.5% £318,001 £335,365 £368,368,980
Rugby West Midlands 525 642 22.2% 6.0% £488,421 £517,814 £332,326,615
Tandridge South East 634 773 21.8% 3.2% £603,612 £623,198 £481,593,711
West Northamptonshire East Midlands 2,124 2,584 21.7% 3.0% £440,347 £453,426 £1,171,751,204
Adur South East 449 545 21.4% 3.3% £445,893 £460,453 £251,061,937
Rother South East 727 880 21.0% 5.2% £494,518 £520,026 £457,410,636
Fenland East of England 508 611 20.2% 3.1% £311,106 £320,796 £195,860,271
North Somerset South West 1,324 1,587 19.9% 3.9% £407,443 £423,513 £672,176,551
Spelthorne South East 631 755 19.7% 5.9% £426,050 £451,084 £340,563,152
South Derbyshire East Midlands 507 606 19.7% 6.4% £376,993 £401,088 £243,188,887
Chorley North West 506 601 18.7% 6.7% £359,211 £383,312 £230,217,217
Wealden South East 1,186 1,397 17.8% 2.3% £499,370 £510,958 £713,681,366
Southend-on-Sea East of England 1,173 1,372 17.0% 1.7% £380,320 £386,749 £530,811,842
Reading South East 878 1,023 16.6% 2.4% £321,019 £328,756 £336,429,187
Broxbourne East of England 634 735 15.8% 3.2% £676,553 £698,514 £513,197,481
Three Rivers East of England 640 739 15.4% 3.1% £717,760 £739,805 £546,673,068
Tewkesbury South West 554 635 14.5% 6.7% £547,034 £583,864 £370,597,488
Peterborough East of England 936 1,068 14.1% 6.3% £347,808 £369,643 £394,811,954
Folkestone and Hythe South East 735 838 14.0% 3.1% £420,526 £433,474 £363,112,589
Runnymede South East 546 620 13.6% 2.3% £461,984 £472,399 £293,052,769
East Hertfordshire East of England 1,041 1,173 12.7% 2.6% £501,224 £514,076 £603,152,942
East Cambridgeshire East of England 583 655 12.3% 5.2% £482,647 £507,723 £332,320,842
Wolverhampton West Midlands 1,096 1,227 11.9% 7.0% £309,784 £331,347 £406,653,941
South Cambridgeshire East of England 1,039 1,156 11.2% 6.0% £583,130 £618,006 £714,317,114
North Northamptonshire East Midlands 1,856 2,064 11.2% 5.0% £406,823 £427,101 £881,408,715
Uttlesford East of England 675 749 11.0% 3.0% £615,976 £634,221 £475,170,663
Gloucester South West 663 732 10.3% 5.3% £401,192 £422,639 £309,221,469
Maidstone South East 1,220 1,344 10.2% 5.0% £463,418 £486,803 £654,113,433
North Hertfordshire East of England 910 992 9.0% 4.2% £466,658 £486,124 £482,015,461
Bournemouth, Christchurch and Poole South West 2,763 2,962 7.2% 2.3% £334,172 £341,830 £1,012,413,158
Lewes South East 777 828 6.6% 3.7% £420,282 £435,633 £360,557,569
Stevenage East of England 470 498 5.9% 4.4% £474,735 £495,537 £246,815,995
Brighton and Hove South East 2,319 2,435 5.0% 3.5% £404,604 £418,891 £1,020,106,930
Arun South East 1,342 1,409 5.0% 3.9% £475,132 £493,835 £696,016,265
Gravesham South East 661 693 4.8% 3.6% £718,758 £744,983 £516,054,893
Richmond upon Thames London 2,187 2,283 4.4% 3.0% £664,417 £684,433 £1,562,514,498
Leeds Yorkshire and The Humber 3,987 4,159 4.3% 5.5% £339,998 £358,560 £1,491,139,406
Canterbury South East 1,141 1,178 3.2% 2.1% £306,909 £313,303 £369,006,106
Swale South East 1,040 1,061 2.1% 2.9% £406,642 £418,415 £444,013,949
Milton Keynes South East 1,728 1,759 1.8% 3.2% £451,075 £465,658 £819,248,346
City of London London 150 151 1.1% -0.8% £1,092,815 £1,084,380 £164,172,914
Thanet South East 1,146 1,145 -0.1% 4.0% £428,939 £445,983 £510,430,185
Medway South East 1,658 1,644 -0.9% 4.6% £395,079 £413,063 £679,032,442
Eastbourne South East 735 717 -2.5% 7.1% £411,646 £441,029 £316,268,649
Merton London 1,989 1,936 -2.6% 2.1% £704,031 £718,813 £1,391,841,699
Sandwell West Midlands 1,550 1,509 -2.7% 8.2% £319,004 £345,233 £520,989,681
Liverpool North West 2,167 2,090 -3.6% 4.7% £266,442 £278,924 £582,842,714
Camden London 2,842 2,715 -4.5% 1.8% £894,177 £910,031 £2,470,477,157
Ashford South East 997 949 -4.8% 2.3% £463,465 £474,318 £450,150,055
Newcastle upon Tyne North East 1,417 1,345 -5.1% 5.2% £320,169 £336,703 £452,811,927
Hackney London 2,514 2,382 -5.2% 3.1% £721,937 £744,263 £1,772,688,072
Watford East of England 850 800 -5.9% 3.1% £426,486 £439,807 £351,769,544
Central Bedfordshire East of England 2,239 2,099 -6.2% 4.2% £516,614 £538,454 £1,130,291,910
Bradford Yorkshire and The Humber 2,232 2,089 -6.4% 6.0% £256,640 £272,143 £568,483,258
Slough South East 856 801 -6.5% 2.4% £412,165 £421,943 £337,907,992
Bedford East of England 1,310 1,217 -7.1% 4.1% £511,738 £532,573 £648,142,558
Thurrock East of England 1,158 1,066 -8.0% 5.0% £453,996 £476,513 £508,050,181
Welwyn Hatfield East of England 910 834 -8.4% 1.8% £565,409 £575,659 £479,819,235
Charnwood East Midlands 1,115 1,012 -9.2% 5.1% £453,960 £477,053 £482,904,262
Bristol, City of South West 3,378 3,057 -9.5% 3.9% £392,615 £408,008 £1,247,245,783
Dartford South East 792 716 -9.6% 4.5% £525,995 £549,687 £393,545,196
Harrow London 2,420 2,137 -11.7% 3.1% £506,362 £522,027 £1,115,580,585
Southampton South East 1,473 1,295 -12.1% 2.9% £277,465 £285,627 £369,846,790
Sheffield Yorkshire and The Humber 3,036 2,667 -12.2% 6.2% £272,289 £289,052 £770,911,459
Ealing London 3,632 3,132 -13.8% 1.9% £548,160 £558,373 £1,748,570,064
Derby East Midlands 1,244 1,062 -14.6% 6.8% £277,103 £296,004 £314,456,939
Havering London 2,385 1,922 -19.4% 3.4% £477,913 £494,026 £949,356,371
Haringey London 3,431 2,716 -20.8% 1.4% £534,191 £541,467 £1,470,449,587
Nottingham East Midlands 1,845 1,451 -21.3% 6.9% £273,026 £291,928 £423,714,329
Luton East of England 1,463 1,144 -21.7% 4.5% £392,805 £410,387 £469,677,707
Bromley London 3,713 2,806 -24.4% 3.4% £554,834 £573,639 £1,609,863,495
Kingston upon Thames London 2,001 1,464 -26.9% 2.9% £616,601 £634,230 £928,293,182
Barnet London 5,160 3,683 -28.6% 3.3% £648,190 £669,319 £2,465,278,117
Brent London 3,954 2,805 -29.1% 1.9% £532,819 £542,930 £1,522,903,542
Sutton London 2,332 1,628 -30.2% 3.5% £494,584 £511,748 £833,141,942
Leicester East Midlands 2,435 1,690 -30.6% 6.1% £351,966 £373,599 £631,242,208
Birmingham West Midlands 7,174 4,974 -30.7% 5.2% £323,928 £340,788 £1,695,151,909
Southwark London 4,065 2,710 -33.3% 0.7% £537,198 £541,014 £1,466,179,238
Waltham Forest London 3,711 2,409 -35.1% 2.2% £555,119 £567,530 £1,367,067,333
Hillingdon London 3,541 2,260 -36.2% 1.9% £505,020 £514,464 £1,162,453,586
Redbridge London 3,682 2,270 -38.3% 2.0% £627,324 £640,028 £1,452,966,886
Lewisham London 4,025 2,470 -38.6% 1.1% £478,121 £483,350 £1,193,669,092
Croydon London 4,511 2,763 -38.7% 1.9% £420,252 £428,032 £1,182,700,828
Hounslow London 3,368 1,991 -40.9% 2.2% £441,554 £451,105 £898,375,246
Enfield London 4,286 2,531 -40.9% 1.9% £445,708 £454,224 £1,149,643,522
Greenwich London 4,077 2,396 -41.2% 1.8% £494,003 £503,094 £1,205,509,570
Newham London 4,188 2,178 -48.0% 1.5% £579,247 £587,752 £1,280,192,582
Coventry West Midlands 3,081 1,527 -50.4% 3.5% £361,883 £374,558 £572,134,119
Barking and Dagenham London 2,979 1,295 -56.5% 4.1% £476,566 £496,320 £642,529,642
Tower Hamlets London 5,190 2,177 -58.1% 3.8% £512,888 £532,613 £1,159,552,292
Housing delivery numbers under the current and proposed methods sourced from Gov UK – Proposed reforms to the National Planning Policy Framework and other changes to the planning system
Added value to housing market based on the average annual price increase of new-build homes over the last five years multiplied by the number of new homes delivered under the new proposed method and sourced from the Gov – UK House Price Index (June 2024 – latest available).

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About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents. With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 21 prominently located branches and 15 international offices.

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