New-Build Development Slows but More Homes are Being Completed

There is presently an increase in new-build developments who were started in the 12 months to June 2018, however, more schemes were completed, the latest Government data reveals.

Official figures for England reveal that annual new-build dwelling starts totalled 160,020 in the year to June 2018, down by 3% in comparison with the year to June 2017.

During the same period, completions totalled 161,240, a 5% annual increase.

Both the private and social housing sector saw a decrease in new starts.

Private sector starts were down 2% annually to 134,660, while housing association building work fell 9% annually to 23,890.

There was a 5% annual increase incompletions from the private sector to 132,370, while housing associations showed a 3% boost to 27,040.

The report said approximately half of the data used to produce the house building statistics are supplied by the National House-Building Council based on its warranty registrations.

The NHBC data showed that 80% of all completions were for new-build houses, the highest proportion since 2003.

NHBC said 13,713 new homes were registered in August 2018, a 1% annual increase.

Of these, 10,588 new homes were registered for the private sector – down 1.3% annually – and 3,125 in the affordable sector, which was up 11.5%.

Steve Wood, Chief Executive of NHBC, commented: “We continue to see strong numbers in many parts of the UK with a substantial uplift in London, driven by increased activity by housing associations and the continued flow of inward investment on for-sale and private rental developments.

“The continuing uncertainties around Brexit and the UK’s economic outlook do not seem sufficient to dent confidence in the new-homes market, where NHBC’s focus remains on helping developers to build more high-quality homes for people across the country.”