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Housing development starts fell 10% in Q2

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  • 16/08/2012
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Housing development starts fell 10% in Q2
Figures show government initiatives have failed to kick start the house building market as hosuing development start numbers continue to contract.

Seasonally adjusted house building starts in England fell 10% in Q2 with 21,540 in the June quarter 2012. Completions also fell, down 6% to 29,470 in the June quarter 2012.

Seasonally adjusted starts are now 27% higher than the trough in the March quarter 2009 but 54% below the December quarter peak in 2005. Completions are 39% below their Q1 peak in 2007.

Annual housing starts totalled 98,670 in the 12 months to June 2012, with completions in England reaching 118,330 in the 12 months to June 2012, up 8% on the year.

Figures show local authority or council house building is close to its lowest ebb since records began at 100,000 houses in Q1 and 180 in Q2. Council house building hit rock bottom in 2010 with just 50,000 houses built.

National Housing Federation chief executive David Orr said: “This significant drop in house building levels reflects the current tough economic environment but building new homes is the best way we can stimulate economic growth.”

He said the government must set out bold and ambitious proposals to recharge our house building industry.

“Building more new homes would create economic growth, provide thousands of homes for families, give thousands of young people in our towns and cities a skilled job and keep many family-run local firms in business.”

 

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