New figures have revealed the number of new homes being built across the country has surged, with completed properties reaching the highest level for nearly six years…
The latest data on housebuilding has shown levels have more than doubled since 2009. Both starts and completions have increased over the past 12 months.
Additionally, the figures showed the number of new homes that have been completed rose sharply, reaching the highest level for nearly six years.
The news will be welcomed by the sector, which was hit hard by the 2008 economic downturn. Over quarter of a million jobs were lost during as a result of the crash. The Conservatives have made significant efforts to push housebuilding, ensuring the industry formed part of its long term economic plans.
A number of schemes were put into place by the former coalition to encourage growth in the building sector, and it looks as if the Tory government intends to maintain this push.
Measures included helping aspiring homeowners to purchase property through schemes such as Help to Buy; reforming the planning system to help developers to build more; and giving local people the power to have a say over development in their area. The government is also pushing affordable housing programmes, with the aim of delivering 275,000 homes by 2020.
The figures for building certainly look to be on the positive side. According to the data in the year to March work started on 140,500 homes. This figure was five per cent higher than the previous year.
Furthermore, over 40,000 homes were started between January and March this year. This represented a 31 per cent increase on the same period in 2014, and was 136 per cent higher than seen in 2009.
The figures also suggested housing starts are at the highest level since 2007.
Housing Minister Brandon Lewis said: “Housebuilding is at the heart of our plan to ensure the recovery reaches all parts of our country.
“We’re turning around an industry that was devastated and getting the country building again.
“Today’s figures show these efforts are reaping results, with housebuilding starts having more than doubled since 2009, and completions at their highest for nearly 6 years.
“It is vital we maintain this momentum, getting workers back on sites and homes built – giving more people the chance to own their own home.”
Growth was also seen between April 2014 and March this year, with an 11 per cent increase on last year. With 125,110 homes completing during this period, the figure represents the highest annual total since 2009.
On a regional level, figures show just how much building has grown. In Manchester, the number of new starts increased by 84 per cent over the year, while Winchester saw starts rise by a whopping 120 per cent.
Figures for housebuilding, covering the quarter to March, can be found here.
