The number of homes being built since the lifting of the first period of national coronavirus restrictions continues to rise, latest housebuilding figures show.
New data shows new housing starts were estimated to be 42,110 in the latest quarter (October – December 2020), a 16% increase on the previous quarter (July – September 2020).
New homes completed was at 46,950 in the latest quarter, a 4% increase compared to the last quarter, and the highest completions figure since its peak in the March quarter 2007.
The figures also show an increase in housebuilding starts in London with 13,460 in 2020, an increase of 11% from 2019.
In addition, the figures highlight that in 2019 to 2020 houses made up 79% of all new build dwellings – the highest proportion since 2000 to 2001.
The figures further reflect the housing and construction industry’s resilience and measures they have taken to keep building sites open, in line with public health advice.
Housing Secretary RT Hon Robert Jenrick MP said:
“Today’s figures show a steady increase in the number of new housing starts and the number of new homes built, highlighting a sustained period of growth in the housing sector as it continues its recovery.”
“The government has continued to demonstrate its support for the industry throughout the pandemic by enabling construction sites to remain open and operate safely in line with important public health guidance. We’ve intervened to help the sector bounce back despite all the challenges we’ve faced.”
Founder and Managing Director of BuildScan, Harry Yates, commented:
“Activity in the new homes sector is heightened and the numbers from MHCLG are beginning to show the appetite that housebuilders have for delivering new homes currently.”
“Far from being put off by the pandemic they are circling their wagons and beginning a concerted drive to provide the new homes that the country needs.”
“We may well see in excess of 250,000 new builds completed in 2021 for the first time since the 1970s and this will provide a solid foundation in reaching the Government’s aspirations of 300,000 new-builds built each year.”
“The caveat of course is quality and property developers must ensure that this isn’t compromised at the expense of homebuyers as they deliver volume at scale.”
James Forrester, Managing Director of property developer StripeHomes commented:
“The latest market data on housing delivery is quite remarkable when you consider that the country was in enforced hibernation for a large part of the year.”
“With construction restrictions easing earlier than most, the sector was able to roll up its sleeves and build an impressive level of new build homes during the final quarter of 2020.”
“This was no doubt driven by the rapidly returning health of the wider market, spurred by the stamp duty holiday, boosting confidence amongst builders that there was an appetite for homes should they be able to deliver them.”
“With the holiday remaining in place for much of 2021 and keeping buyer demand high, it could well be the best year for housebuilding that Britain has seen since the 1950s.”