First-time Buyer
Boost in newly built homes
Guest Author:
Christina HoghtonHousing completions are at seven-year high, according to government figures.
The number of newly built homes is at its highest level since 2008 to 2009, the figures show.
Some 139,690 new homes were completed in the year to March – a rise of 12% on the previous year.
In addition, the number of new homes started is also at its highest level since 2007 to 2008, with 139,680 homes were started in 2015 to 2016.
Housing and Planning Minister Brandon Lewis said: “We are seeing our housebuilding efforts paying off, with this considerable increase in the number of homes built in just one year.
“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.”
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Regional hotspots
The figures show strong regional growth in Wakefield and London, which have both experienced high levels of completions.
Delivery in London saw 32% more homes being built in 2015 to 2016 than the previous year with local authorities in Basildon and Haringey seeing completions soar 279% and 1039% respectively over the same period.
And in Wakefield completions were up 59%, from 1,028 to 1,634.