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New home starts falling well short of demand

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New home starts falling well short of demand

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Published by Max Salsbury for 24dash.com in Housing and also in Central Government, Development

Housebuilding Housebuilding

The number of new homes being started is well down on 2007's pre-recession peak, government figures have shown.

Statistics released by the Department for Communities and Local Government have revealed that the number of new builds was 45 percent down in the three months to December 2012 when compared with the three months to March 2007.

The number of new starts increased slightly over the previous year.

However, according to the figures, things improved slightly compared with the previous quarter. Seasonally adjusted house-building starts in England numbered 26,830 in 2012's final quarter, one percent higher up on the previous quarter.

Nick Cuff, development manager at Essential Living, said: “We’re unlocking large sums from our investment partners to create a vital new source of housing supply. There is an overwhelming need for new homes and build-to-let has a key role to play in this.

"The win-win for government is having professionally managed rental homes where the investor takes a long-term interest in the community. We’re glad that policy-makers have recognised this opportunity.”

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