New research by the estate agent comparison website, GetAgent, suggests that there are major inconsistencies when it comes to the number of new homes required and the total of houses delivered.
The results show that the level of additional net dwellings delivered has exceeded the forecasted requirement in recent years.
Data from the Housing Delivery Test 2021, an annual measurement that highlights the need for housing in designated areas, was analysed alongside the number of dwellings delivered to uncover these findings.
Additional homes supplied across England
GetAgent claims that, in accordance with government data, since 2018 and 2019 620,899 additional homes were needed and 770,056 were delivered. Overall, this is a delivery rate of 124%.
The largest level of delivery during this time was seen across the North West at 175%. The North East saw 173% and West Midlands 147%.
During this time, 117,554 additional dwellings were created in London which is 103% of the 113,910 required.
Since 2018 and 2019 the Government forecast a need for 88 additional dwellings in Oxford. However, around 1,879 additional homes were oversupplied at the rate of 2,126%.
Some of the most oversaturated markets with additional dwellings include Richmond (1,620%), Copeland (931%), Tamworth (471%), and Redcar and Cleveland (453%)
In contrast, the lowest levels of additional dwellings delivered versus their forecasted requirement were seen across Eastbourne (32%), Worthing (35%), Epping Forest (35%), and Epsom and Ewell (35%).
Co-founder and chief executive officer of GetAgent.co.uk, Colby Short, commented: “Given the Government’s failures in addressing this crisis, it’s hardly surprising that their forecasted housing requirements are reserved, to say the least, and based on these forecasts, the nation is benefiting from a large degree of oversupply.”
“However, when you scratch beneath the surface, it’s abundantly clear that the delivery of additional homes from one area to the next is dangerously out of kilter. This is, no doubt, largely down to market manipulation from those who stand to profit from the creation of these additional dwellings.”
By allowing housing delivery to be decided by profitability over need, some areas of the property market have been oversaturated by the delivery of new homes, while others remain very much left out in the cold.”