New home starts up by 12% in England in third quarter of 2018
The number of new homes being started in England increased by 12% in the third quarter of 2018 on a quarterly and annual basis, the latest official figures show.
Meanwhile, completions were unchanged quarter on quarter but up by 3% year on year, according to the figures published by the Ministry of Housing, Communities and Local Government and (MHCLG).
It means that starts are now 161% above the trough in the second quarter of 2009 but are still 9% below their peak in the second quarter of 2007. Completions are 65% above the trough in the second quarter of March 2013 and 15% below their peak in the second quarter of 2007.
The data also shows that starts were up 14% in the private sector and housing association starts were up by 9%. Starts by local authorities decreased but this sector is small and the figures can be quite volatile.
Housing Secretary James Brokenshire said that builders have started construction on more homes than at any point in the past decade, marking real progress made towards the Government’s ambition of 300,000 homes a year by the mid-2020s.
‘These figures show further encouraging progress towards our commitment to deliver a housing market that works for everyone while boosting the supply of new homes across the country,’ he added.