The Government has released the latest figures on housing supply, they can be seen here, and in summary:
- Building Control Figures:
- Starts: 29,310 (seasonally adjusted), a 17% increase from the previous quarter and 38% increase from the same quarter in 2023. However, starts are 56% below the 2023 Q2 peak.
- Completions: 36,580 (seasonally adjusted), a 13% decrease from the previous quarter and a 12% decrease compared to 2023 Q3.
- Annual Trends (Year to 30 September 2024):
- Starts: 98,560, a 41% decrease from the previous year.
- Completions: 156,930, a 7% decrease from the previous year.
- Other Housing Indicators:
- Net Additional Dwellings (2023-24): 221,070, a 6% decrease compared to the previous year.
- Energy Performance Certificates (EPCs):
- 50,570 EPCs lodged in 2024 Q3, a 14% decrease from the same quarter in 2023.
- 221,450 EPCs lodged in the year to September 2024, a 7% decrease from the previous year.
- Council Tax Stock of Properties:
- Net increase of 217,870 domestic properties in 2023-24, a 9% decrease from 2022-23.
- Regional Analysis:
- Starts decreased in all regions year-on-year, with the largest drop in London (-72%) and East Midlands (-49%).
- Completions fell in 7 of 9 regions, with the largest decline in the West Midlands (-22%).
- Final Tenure Estimates (2023-24):
- Private enterprise accounted for 73% of new builds, housing associations 24%, and local authorities 3%.
- 46% of housing association or local authority completions were delivered via Section 106 agreements (nil grant).
- Methodology Note:
- Building control data covers about 80% of housebuilding. Data from the Building Safety Regulator (BSR), established in 2023, is not yet included, which may result in undercounting.
Key trends reflect significant decreases in starts, completions, and other housing supply indicators compared to prior years, influenced by regulatory changes and broader market challenges.
