London leads a nationwide increase in the number of homes being built in the last year.
New housebuilding starts and completions in London were up 27% and 36% respectively in the year ending September 2004, according to the latest figures from the office of the deputy prime minister.
Across England, starts and completions for the three months to September 30 increased by 13% compared with the same period last year, with 45,400 starts and 38,500 completions.
In the regions there was an increase in the number of new houses being started and completed in most areas, with only the North West and West and East Midlands suffering from a fall in levels.
In a separate report, the National Association of Estate Agents released figures today backing up projections from the Bank of England that there will be “some modest adjustment” in house prices. According to the NAEA, average properties prices fell be 1.56% to £215,460 in October, although the number of first-time buyers rose slightly.