Posts with tag: housebuilding at 2007 level

Encouraging statistics have suggested that new housing starts have increased considerably since 2009 and are at their highest level since 2007.

Rises

Figures from the Department of Communities and Local Government also suggest that both starts and completions were up in the last twelve months. Additionally, in the year to March 2015, work was started on 140,500 houses, an increase of 5% from the previous year. [1]

Further encouragement came with the news that building starts were up by 31% in the first quarter of 2015, in comparison to the final months of last year. Starts were also up by 11% from the same period one year ago.[1]

Completions were found to be 10% greater than in the previous quarter and up a considerable 21% from the same quarter last year.[1]

Recovery

Housing minister Brandon Lewis stated that, ‘house building is at the heart of our plan to ensure the recovery reaches all parts of our country. We’re turning around an industry that was devastated and getting the country building again.’[1]

Continuing, he said that he believes, ‘these figures show these efforts are reaping results, with house building starts having more than doubled since 2009 and completions at their highest for nearly six years.’ Lewis believes that it is, ‘vital we maintain this momentum, getting workers back on sites and homes built, giving more people the chance to own their own home.’[1]

[1] http://www.propertywire.com/news/europe/england-new-home-building-2015052610549.html