The Government has just published its quarterly report ‘Housing supply: indicators of new supply, England‘ for July to September 2023.

The full report can be seen here, and it provides a comprehensive update on new building regulatory standards and housing supply trends in England up to September 30th, 2023.

Main points from the report include:

LIS Show – MPU

Key Statistics:

  1. Building Control Figures (Q3 2023):
    • Seasonally adjusted data indicates that between July 1st and September 30th, 2023, the number of dwellings where building work started was 21,300, a 68% decrease from the previous quarter and a 52% decrease from the same quarter the previous year.
    • Dwellings completed during the same period were 39,990, showing a 1% increase from the previous quarter but a 5% decrease from the same quarter the previous year.
  2. Other Housing Supply Indicators:
    • In 2022-23, there were 234,400 net additional dwellings, similar to the previous year.
    • New dwelling Energy Performance Certificates (EPCs) lodged in Q3 2023 were 58,810, a 6% decrease compared to the same quarter the previous year.
    • In the year ending September 2023, there were 237,030 new dwelling EPCs lodged, a 4% decrease from the previous year.
    • The net increase in the number of domestic properties with a council tax band was 239,380 in 2022-23, a 3% increase from the previous year.
  3. Regional Figures (Year to September 2023):
    • Starts decreased in six of nine regions, with the largest percentage decreases in the South West (-16%) and the South East (-15%).
    • Completions decreased in seven of nine regions, with the largest percentage decrease in the North West (-12%).
    • The East Midlands had the highest rates of annual starts per 1,000 dwellings, and the East of England had the highest rates of annual completions per 1,000 dwellings.
  4. New Build Completions Final Tenure Estimate (2022-23):
    • Private Enterprise delivered 75% of total new build dwellings, Housing Associations 22%, and Local Authorities 3%.
    •  It is estimated that 48% of completions delivered through Housing Associations or Local Authorities were under Section 106 (nil grant) agreements.
  5. Planning Applications (Year to September 2023):
    • Planning permissions granted for 245,000 homes, a 15% decrease from the previous year (290,000 homes).
    • The figures for housing units granted planning permission show a similar trend to building control reported starts and completions.

NB: Transition Period Ends:

    • 15th June 2023 marked the end of the transition period into new building regulatory standards in England relating to energy performance and electric vehicle charging points.
    • Builders may have started projects earlier to avoid the cost of compliance, leading to an unusually high peak in starts in Q2 2023 and a low trough in Q3 2023.
    • Caution is advised in assessing the underlying trend in starts in Q3 due to these transitional effects.

The report emphasizes caution in interpreting Q3 data due to the transitional effects of the new building regulatory standards. It provides a detailed analysis of various indicators to offer a comprehensive view of housing supply trends in England.

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