Housebuilding falls 9% in Q1 amid calls for government intervention

by:
  • 27/05/2016
  • 0
Housebuilding falls 9% in Q1 amid calls for government intervention
Housebuilding completions in England fell in the quarter to March, while the number of houses currently in construction also decreased on a quarterly basis.

Figures from the Department of Communities and Local Government show there were 32,950 housing completions in England between January and March, marking a 9% fall on the previous quarter and 3% lower than a year ago.

However, for the year to March a rise of 12% in housing starts was seen, with 139,690 recorded

Starts are now 107% above the trough in the 2009 March quarter, but 27% below the peak reached in Q1 2007.

Speaking about the year-on-year rise, housing and planning minister Brandon Lewis said: “This is real progress but there is more to do. That’s why we are going further and increasing our investment in housebuilding to ensure many more hard-working people can benefit.”

However, Campbell Robb, chief executive of housing and homelessness charity said the figures weren’t good enough.

The government has promised to build a million homes by 2020, yet these figures show one of the biggest quarterly falls in the number of homes built that we’ve seen for a decade,” he said

“We’re still only building a little over half the homes we need each year and it’s simply not good enough.”

He said the government needs to get on the side of people on “typical incomes”.

Private enterprise housing starts were 3% lower in the March quarter 2016 than the previous quarter while completions were 7% lower.

Starts by housing associations were also down, dropping 9% from the previous quarter, with completions down 24%.

 

There are 0 Comment(s)

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions
Read previous post:
couple looking at house advert in window
Estate agents report fall in housing demand and supply in April

The number of house hunters registered at estate agencies fell to its lowest point since March 2014, research from The National...

Close