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New home building rises, but is it enough to meet demand?

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15/11/2019
More homes are being created now than at any other time this century, but the government is still falling short of its target
New home building rises, but is it enough to meet demand?

Annual housing supply in England has risen nine per cent over the last year, according to the Ministry for Housing Communities and Local Government.

There were 241,130 net additional dwellings in 2018-19, which predominantly came from newly built homes.

There were 213,660 new build homes, 29,260 gains from change of use between non-domestic and residential, 5,220 from conversions between houses and flats and 940 other gains (including properties such as caravans and house boats).

These additions were offset by 7,940 demolitions.

Andrew Southern, chairman of property developer Southern Grove, said: “More homes are being created across the country than at any time this century. This is a hugely promising sign for the industry which is under immense pressure to deliver more housing.

“There is finally some real momentum behind moves to boost housing stock and levels are now surging beyond their pre-crisis peak.

“The best news of all is that this nine per cent increase in net dwellings is being driven primarily by a similarly strong hike in new build completions, which are also growing at nine per cent annually.”

But he added: “The industry must build on this success, and cannot rest on its laurels. The property market is crying out for more new homes, the demand is there and local authorities, particularly in the cities, need to be open to creative ways of encouraging more affordable schemes in high density areas.”

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