The latest government statistics on housing supply in England reveal a mixed outlook for the sector.
Between July and September 2024, housing completions showed a 14% increase compared to the previous quarter, reaching 43,026. However, year-on-year completions remain lower than historical highs, reflecting the ongoing challenges faced by the construction industry.
Private enterprise remains the largest contributor to new housing supply, accounting for over 75% of all completions, while housing associations and local authorities continue to play a smaller yet vital role. Building control-reported completions for Q2 2024 totalled 44,320, with a notable contribution from private developers.
Despite the quarterly growth, long-term figures show a decrease in housing starts and completions compared to 2023, with total starts declining by 54% over the last 12 months. The net additional dwellings for the 2023-24 financial year also slightly fell to 232,477.
This data highlights the importance of continued investment and policy support to meet housing demand and bolster supply chains amidst economic uncertainties. For more insights, view the full statistical release.
Comments