Quarterly House Building Stats Out Today from MHCLG – COMMENT from Michael Stone, CEO of new build specialists, Stone Real Estate

new build homes essex uk

The Ministry of Housing Communities and Local Government this morning released its latest data on new house building completions and starts to June 2019 (England).

See https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/835887/House_Building_Release_June_2019.pdf

The upshot is that they are broadly positive, particularly completions, at 45,190 homes built in the April to June period, UP 4% on the last quarter and UP 11% year on year. Housing Association completons are considerably higher at 20% stronger year on year!

However, housing starts are down and we wonder if this bodes badly for the next quarter’s figures?

In any case, Michael Stone, Founder and CEO of Stone Real Estate, the specialist new homes estate agent has this comment for you:

“On the surface, these latest numbers are extremely encouraging and tell a positive story in so far as overall new homes supply with house builders delivering on 11% more than a year ago. This is no mean feat given current political headwinds and economic uncertainty and is surely testimony to our teflon-like aspirations as a property owning nation.

In particular, affordable homes have seen a big spike in completions and this has to be warmly welcomed given that this is where the biggest deficit in housing provision lies. 

However, celebrations at solving the bottle-neck of housing supply will be short-lived if the downturn in ‘starts’ is not reversed in the next set of numbers. These latest MHCLG numbers point to a reduction in dwellings started of 2% quarterly and 8% year on year. This is no seasonal blip and our house-builder friends and local authorities alike will need to work hard to dig-down, literally, in order to ensure that the positive trend in housing supply continues to come close to meeting demand”.  

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

Breaking Property News – 28/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Birchgrove and Hybr launch intergenerational living scheme A unique partnership will see students, key workers and retirees live together at new north London retirement development. Birchgrove, the UK’s leading provider of rented retirement homes, and Hybr, the UK’s leading student letting platform, today announce an industry-first…
Read More
Estate Agent Talk

Benefits Of Choosing Roger Bates Properties

Roger Bates Properties stands out as a prominent real estate agency that offers a myriad of benefits to individuals seeking to buy, sell, or invest in real estate. With a stellar reputation and a commitment to excellence, choosing Roger Bates Properties can prove to be a decision that yields numerous advantages. 1. Experience and Expertise…
Read More
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker – 28/02/24

The average 5-year fixed mortgage rate is now 4.80%, up from 4.59% a year ago The average 2-year fixed mortgage rate is now 5.15%, up from 4.92% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.73%, up from 4.64% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.30%, up from 4.25% a year ago The average monthly mortgage payment on a…
Read More
Love or Hate Rightmove
Breaking News

Rightmove calls for stamp duty reform with only 4% of London homes exempt

Ahead of the Spring Budget on March 6th, the UK’s biggest property website Rightmove suggests three policy reforms that could help people moving home: A reform of stamp duty to consider regional property price variations: Only 4% of homes in London are stamp duty exempt for all buyers, compared to 71% in the North East Less than…
Read More
Breaking News

Breaking Property News – 27/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Alto reveals ‘next generation’ of Lettings Progression Alto, software for estate agents and part of Houseful, has revealed further information about the improvements being rolled out in 2024 to drive a step change in business efficiency for letting agents. Leading the way is a…
Read More
Home and Living

The Versatility of Parquet Flooring in Contemporary Homes

What comes into your mind when you hear about parquet flooring? Most probably Victorian era, historic estates, grand ballrooms, and grand mansions but what if I tell you that the parquet flooring has redefined itself with warmth, texture, and classic elegance? Parquet flooring in contemporary homes is a delight to the eyes because when you…
Read More