Inspiring Business by Sharing Success

East Midlands spent more than £3 billion on new housing during 2019-20

East Midlands spent more than £3 billion on new housing during 2019-20

South Derbyshire is the fastest-growing area for housing developments in the East Midlands.

That’s according to new research from Protrade, the East Midlands’ premier supplier of trade tools, which have trawled through free-to-access data analysing domestic housing construction completed during Q3 2019 and Q2 2020 across all the UK’s local authorities.

South Derbyshire tops a list of 40 local authorities across the East Midlands after building more than 1,000 new homes during the aforementioned period and spending more than £200,000,000 on housing construction.

Collectively, the East Midlands spent more than £3 billion on nearly 20,000 new houses.

Analysing this data, Craig Sanders, managing director at Protrade, said: “The COVID-19 pandemic has had a huge impact across a number of sectors, with construction also being hit hard during the first lockdown. However, it has bounced back from its contraction back in Spring 2020 and continues to be one of the main drivers for the recovery of the UK economy. That’s been no different here in the East Midlands.

“Despite difficulties the United Kingdom has faced, there has still been significant demand across for new builds, almost certainly helped by the cut of stamp duty. The ongoing lack of affordable housing has also fuelled the requirement for new homes.”

Nottingham takes the top spot in the city-based local authorities when it comes to housing development growth.

The city grew by one per cent exactly after investing more than £130,000,000 in new builds between Q3 2019 and Q2 2020.

Leicester was behind Nottingham in second, while Derby sits fifth in the new build standings. The table also contains Mansfield, Northampton, Chesterfield, and Lincoln.

The data, acquired from the Ministry of Housing, Communities, and Local Government, takes into account three factors to provide a growth percentage for each of the UK’s local authorities. These are sum of total floor area (m2), number of new lodgements and number of dwellings.

Beyond that, the available data also provided an estimated construction cost.

The provided information also dates back to 2008, which showcased how each local authority had grown over a 12-year period up to the end of Q2 2020. 

< Back