Value of new homes on the rise
The value of new homes delivered to the market by the UK’s biggest housebuilders over the past year is on the rise, and is on par with the GDP of Cameroon according to research by Stone Real Estate.
Stone Real Estate looked at the number of homes delivered by 10 of the UK’s biggest housebuilders over the past year, the average price they achieved and what this equated to as a total value of property entering the market.
Across the 10 major developers, 89,805 properties were delivered to the market last year to a total value of £26.62bn which is only marginally lower than the GDP of Cameroon (£26.94bn) and ahead of the likes of Yemen, Libya and Latvia.
The best performing housebuilder was Barratt who delivered £4.89bn of property to the market last year alone.
This was closely followed by Taylor Wimpey who also delivered £4.32bn worth of housing.
Persimmon (£3.42bn), Bellway (£3.18bn) and Berkeley (£2.77bn) all ranked similarly.
Michael Stone, founder and chief executive of Stone Real Estate, said: “An astounding amount of property has been delivered by the biggest UK housebuilders over the last year and valuable stock not just in a monetary sense, but also in terms of meeting the overwhelming demand for homes across the nation.
“To think that these ten housebuilders alone have delivered property to the tune of £26.2bn is huge, but when you consider this is practically on par with the GDP of Cameroon, it really puts it into perspective.
“This delivery of housing stock doesn’t just help aspirational home buyers climb the ladder but it also brings a huge boost to the wider economy, one that will be vital over this coming year with the looming threat posed by the Coronavirus.”