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New home builds hit three-year high

20th August 2010 | back to article listings BACK    print this article PRINT

The number of new homes that have been built in England rose for the first time since 2007 during the second quarter of the year, figures show.

Housing completions edged ahead by 1% to 26,550 during the three months to the end of June, the first quarterly increase since the end of 2007, according to Communities and Local Government.

There was also a 13% jump in the number of new homes that were started during the same period, with these reaching a two-year high of 28,590.

Within this total, there was a 10% increase in the number of properties being built by private developers and a 17% rise in ones started by registered social landlords.

CLG said the number of new housing starts during the three months was 84% higher than when the market hit its low point during the first quarter of 2009.

But it added that despite the improvement, new build levels were still 42% below their peak in the first three months of 2007.

Housebuilders were hit hard by the combination of the credit crunch and the housing market correction, which led to them mothballing sites and putting future developments on hold.

The number of new homes built during 2009 fell to its lowest level since the Second World War.

But the sector has been showing signs of recovering, as the housing market has improved.

Copyright © Press Association 2010

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