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House Building Increases, But Experts Not Satisfied

August 21, 2015 | Landlord News  

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According to the latest figures from the Office for National Statistics, 131,060 new homes were completed in the UK from June 2014 to June 2015 – a 15% increase on the previous 12 months and the highest annual total since June 2009.

However, government figures also show that the 29% quarterly increase in new housing starts in the first quarter of 2015 – the biggest quarterly increase on records going back to 2006 – was followed up with a 14% decline in Q2, which is the sharpest decline since Q1 2012.

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The Chartered Institute of Housing (CIH) gave the government its due for boosting housebuilding, but was also critical. CIH deputy chief executive Gavin Smart said that the figures “show we are a long way short of where we need to be.”

Housing Minister Brandon Lewis promised that the rate of building will continue to increase until it meets its target of 275,000 new houses per year by 2020, which would represent the fastest rate of building for 20 years.

He added: “This has provided a real boost to the UK’s construction industry and is delivering the homes that hard-working people rightly deserve.”

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