The number of new home completions well below the 2007 peak

[Philofacts]

According to the Department for Communities and Local Government housing statistics, a total of 115.620 new homes were completed in the year to 31 December 2012.
This represents an increase of just 1% on the previous year.

The latest reported level of completions is still 35% below the peak of 177,000 for the year to 31 December 2007.
New Home completions fell throughout 2008 and 2009 to a low in the year to 31 December 2010, with just 107,000 new homes being built.

[The Prophet]

With the government subsidy for the house building industry that is 'Help-To-Buy', I would expect the number of new homes built in 2013 and 2014 to be significantly higher than the total number 2010 and 2011.