Supply Of New Homes Up 78% In Five Years

Official figures show the significant progress being made by the housebuilding industry; however, the numbers remain wide of the government’s target to build 300k new homes a year.

Today’s annual release of the ‘Net Supply of Housing Statistics’ numbers – the official measure against which the Government’s housing target is set – shows that in the year to April housing supply in England increased to 222,190, up 78% in five years.

New build completions accounted for 195,290 of supply in 2017-18, a year-on-year increase of 6.4%.

The industry is now on track to smash the target set by government of building a million homes in this parliament (629k after three years); but is calling on government to continue to support the whole housing sector if we are to deliver its new 300k target.

The delivery of new homes, including new-build housing, conversions, change of use, across England has edged up by 2%, reaching 222,190 in the year to March. The number of total net additions has climbed every year since 2012, with new housebuilding alone up 65% over the same period.

Read the full article here.

Credit; November 2018, Showhouse