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02/07/2018

Housing completions decline in March quarter – stats

Words: Laura Edgar
New homes / iStock-172624927

Latest government statistics suggest that 38,160 new homes in England were completed in the March 2018 quarter – 9 per cent lower than the previous quarter and 4 per cent lower than the same quarter in 2017.

Between March 2017 and March 2018, 160,470 homes were completed, an 8 per cent increase compared with the previous year to March 2017.

There were 39,350 estimated new dwelling starts in the March 2018 quarter, which is 5 per cent less compared with the December 2017 quarter and 8 per cent less than March 2017.

Breaking this down, private new-build dwelling starts were down by 3 per cent compared with the previous quarter, while completions were down by 9 per cent. Housing associations started 14 per cent fewer homes compared with the December 2017 quarter, with completions down by 10 per cent.

From March 2017 to March 2018, 157,480 new-build homes were started – a decline of 3 per cent compared with the previous year.

According to the statistical release, there has been a 109 per cent increase in all starts since the March 2009 quarter, although this is still 14 per cent less than the March 2007 peak.

Right to Buy stats

In Q4 2017/18 (January to March 2018), councils sold an estimated 2,722 dwellings under the Right to Buy scheme, down 18 per cent from 3,313 sold in the same quarter a year earlier, according to a separate statistical release from the government.

London councils accounted for 17 per cent of these sales, which sold 461 dwellings.

For this quarter, councils received around £224.9 million from these sales, which is 17 per cent less than the £271.9 million received for this quarter a year earlier. The average receipt was £83,000.

In Q4 2017/18, 1,534 replacement homes were started on site or acquired, 1 per cent lower than the same quarter in 2016.17.

The releases can be found on the UK Government website:

House building; new build dwellings, England: March Quarter 2018 (pdf)

Right to Buy Sales in England: January to March 2017-18 (pdf)

Image credit | iStock

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