North West leads the way for new homes

The North West saw more new-build properties commissioned in Q3 than any other region in the UK, according to new data.

The latest Market Insight report from Barbour ABI, the construction data firm based in Ellesmere Port, found that 5,275 units were commissioned across the region in the third quarter.

The properties came to a total value of £621m, with £608m of that from the private sector.

Michael Dall, a lead economist at Barbour ABI, which last month secured an extended partnership with the Office for National Statistics, said of the findings: “With a lack of housing across the North West heavily publicised, it’s welcoming news that the region leads the UK for new build units in Q3.

“With the mismatch between housing supply and demand, property prices have continued to rise at a significant pace in the region.”

He added: “Home movers, investors and housebuilders will welcome the news, as major residential investment has been poured into the North West in the last quarter, which will hopefully help to alleviate the housing shortage.”

Greater Manchester saw the most residential investment, with some of the biggest projects in the county including a £40m, 302-apartment scheme on New Union Street in Manchester and the 172-apartment Axis Tower development.

Of the top 10 biggest residential projects commissioned in the region between July and September, six were developments comprising private flats.

Michael continued: “If there’s one concern coming from these latest figures it is from a social housing perspective.

“Only 10 of the 87 projects came from the public sector in Q3, however it’s likely that affordable housing will be provided within many of the upcoming private residential developments.”

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