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15/08/2013
Housebuilding Market On The Rise
New figures released by the government show the housebuilding market has begun to show signs of recovery.
The latest housebuilding start figures show there were 29,510 new homes started between April and June this year.
This was 6% higher than the previous quarter and a third higher than the same time last year.
Seasonally adjusted private enterprise completions increased by 11%.
178 of the 326 councils in England have reported an increase in housebuilding starts over the year.
New housing supply is now at its highest level since 2008, with a total 334,000 new homes built in England over the past three years.
Over 150,000 new affordable homes have been built over the same period.
This follows £19.5bn of public and private investment over the current Spending Review, and over £22bn investment in the three years following.
Britain is now experiencing the highest numbers of first-time buyers and the lowest level of repossessions since 2007.
Communities Minister Brandon Lewis said: "Under the last administration, housebuilding fell to its lowest peacetime rate since the 1920s. But today’s figures clearly show government action is bringing confidence back into the housing market and getting Britain building again, with starts increasing by a third year-on-year.
"We’ve already delivered over 330,000 new homes over the past 3 years, and 150,000 affordable homes. There is more to do, but today’s figures reinforce the momentum towards getting Britain building again."
(IT/CD)
The latest housebuilding start figures show there were 29,510 new homes started between April and June this year.
This was 6% higher than the previous quarter and a third higher than the same time last year.
Seasonally adjusted private enterprise completions increased by 11%.
178 of the 326 councils in England have reported an increase in housebuilding starts over the year.
New housing supply is now at its highest level since 2008, with a total 334,000 new homes built in England over the past three years.
Over 150,000 new affordable homes have been built over the same period.
This follows £19.5bn of public and private investment over the current Spending Review, and over £22bn investment in the three years following.
Britain is now experiencing the highest numbers of first-time buyers and the lowest level of repossessions since 2007.
Communities Minister Brandon Lewis said: "Under the last administration, housebuilding fell to its lowest peacetime rate since the 1920s. But today’s figures clearly show government action is bringing confidence back into the housing market and getting Britain building again, with starts increasing by a third year-on-year.
"We’ve already delivered over 330,000 new homes over the past 3 years, and 150,000 affordable homes. There is more to do, but today’s figures reinforce the momentum towards getting Britain building again."
(IT/CD)
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