News Housing Starts

Latest figures on house building starts in England show that for the period of April to June, housing starts were up 6% compared to the same period last year.

House building starts in England are estimated at 29,510 in the June quarter, with completions estimated at 27,270 – which is 9% higher than the previous quarter.

This boost in building starts is being put down to the government’s flagship help to buy scheme – which is believed to be giving increased confidence to house builders to deliver and build more new homes.

Commenting on the Help to Buy scheme Pete Redfern, chief executive of Taylor Wimpey said: “It enables us to build more homes on the sites we have already got open, and also gives us more confidence about investing in future sites and infrastructure which creates more jobs and economic activity locally.”

Private enterprise housing starts were also on the up 7% however starts by housing associations were actually 3% lower for the period.

Based on these new figures, housing starts are now 73% above the trough seen in the March quarter of 2009, but are still 40% below the March quarter 2007 peak – indicating that there is still someway to go in terms of bridging the gap between supply and demand.

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