Welsh new-build housing completions fall 20%, but demand remains strong
Welsh new-build housing completions fall 20%, but demand remains strong
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The number of new homes completed in Wales dropped sharply last year, with just 3,074 properties delivered in 2024, a fall of more than 20% compared to the 3,894 completed in 2022.
The slowdown has been particularly acute in South Wales, where constrained planning pipelines and land supply issues continue to stall delivery.
Despite these pressures, Barratt David Wilson Redrow South Wales has reported that demand for new homes remains robust in 2025. Local authorities have also recorded 4% annual growth in the region, while house price forecasts suggest Wales could outperform the UK average over the next five years by as much as 25.2%.
Newport is proving to be a hotspot, with first-time mortgage applications up 61%. Properties in Wales also remain comparatively affordable, requiring deposits and mortgages that are 23% lower than the UK average.
Nigel Palmer, Managing Director at Barratt David Wilson Redrow South Wales, said: “While the broader sector faces well-documented challenges, our focus remains clear we are actively working with government, industry, housing associations and local authorities to accelerate housing delivery in Wales. Our goal is to help build thriving, inclusive communities while supporting economic growth and providing buyers with tailored financial solutions that make homeownership more achievable.
“The Welsh housing market is underpinned by strong fundamentals affordability, location, and lifestyle. First-time buyers remain highly motivated, and we’re seeing exceptional interest across our developments from buyers who recognise the long-term value of investing in South Wales.”
Barratt David Wilson Redrow South Wales said affordability is being supported by schemes such as Help to Buy Wales, which has been extended until September 2026 and allows buyers to purchase with just a 5% deposit, and its Key Worker Deposit Contribution, where the company contributes up to £25,000 for frontline staff.
Nigel Palmer added: “South Wales offers a unique blend of lifestyle, opportunity, and community, factors that increasingly appeal to today’s buyers. We remain fully committed to ensuring that homeownership remains within reach for future generations through targeted support, meaningful incentives, and collaboration on much-needed planning reform.”
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