- 5th October 2019
- Posted by: DMM
- Category: Property Market Reports
The Ministry of Housing, Communities and Local Government have shown that UK new building housing starts are 8% down in the latest quarter when compared with a year earlier but new build completions are up!
On a quarterly basis and seasonally adjusted new build dwelling starts in England are estimated at 37,220, a 2% drop when compared to the previous quarter but 8% down on the same period in 2018. However, new build completions they estimate at 45,190 (seasonally adjusted) and this is 4% up on the previous quarter and 11% up on a year ago.
Annual new build dwelling start have totalled over 160,000 up to June this year which is down just 1% compared to the same period last year. In the same period new build starts are at over 173,000, a jump upwards of 8% on last year.
This Statistical Release from the (snappily titled) Ministry of Housing, Communities and Local Government provides National Statistics on new build dwellings in England up to 30 June 2019. Their figures show the numbers of new build starts and new build completions for new build dwellings in England in each quarter
New Build Completions – June quarter 2019
The Ministry of Housing, Communities and Local Government say that: “Completions were estimated at 45,190 (seasonally adjusted) in the June quarter 2019, a 4 per cent increase from the previous quarter and 11 per cent above their level in the same quarter a year ago. Completions are now 7 per cent below their peak in the March quarter 2007 and 79 per cent above the trough in March quarter 2013.
There was a 2 per cent increase in the seasonally adjusted completions in the private enterprise tenure compared to the March 2019 quarter, while there was a 20 per cent increase in seasonally adjusted completions in the housing association tenure in the same period. Completions by local authorities decreased but this sector is small and the figures can be quite volatile.”
“There were 160,640 new build dwellings started in the year to June 2019, a 1 per cent decrease compared to the year to June 2018. Private enterprise starts were down by 2 per cent and housing association starts were up by 3 per cent compared with the previous year.”
You can read the full report here and it is well worth a read!
Developer Money Market is an independent comparison website that is designed to help property developers instantly compare property development finance lenders.