New Home Owners And Snagging Forum
Advice on buying a brand new home => General discussion => Topic started by: Philofacts on May 18, 2012, 02:55:02 pm
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Figures released on 17 May 2012 show a substantial decline in the number of new houses started and under construction in the first three months of 2012.
The number of starts fell 11% from the previous quarter, to 24,140 homes, according to the latest data from the Office for National Statistics for January to March 2012.
This is a fall of 15% on the same period last year.
There was an even sharper fall in the number of housing association starts, down to 3,950 representing a drop of 21% on the last quarter of 2011 and a drop of 40% per cent on the same period in 2011.
A report by the National Housing Federation, stated that just 109,020 homes were completed in 2011, around 40% below the 175,560 new homes built during the 2007 peak .
Currently the number of new homes being built is under half the number the government says will be required annually to meet demand.