New build dwelling starts and completions on the rise

New build dwelling starts and completions rose on a quarterly and annual basis in March 2017, according the latest government statistics.

Figures published in the government’s latest Housing Statistical Release reveal that on a quarterly basis, new build dwelling starts in England were estimated at 43,170 in March – a 3% rise on the last quarter and a 21% increase on the year before. Estimated at 39,520 completions were also up, rising 9% on the last quarter and 21% on the year before.

In the year to March 2017, annual new build dwelling starts totaled 162,880, a rise of 15% when compared to the previous year.  At 147,960, annual completions also rose in the year to March 2017, rising by 6% compared to the year before.

Government figures for private enterprise new build dwelling starts, on a seasonally adjusted basis, show a quarterly increase of 4% in the last quarter, with completions rising by 12%.  Housing associations experienced a 2% quarterly rise, whereas completions came in 5% lower.

When compared to the low of March quarter 2009, all starts have now risen by 152% but are still 12% below their March quarter 2007 peak.  All completions meanwhile are 57% higher than their March quarter 2013 dip but 18% below their March quarter 2007 peak.

In terms of the geographical distribution of new build dwelling starts, South Norfolk and Dartford were strong areas in the year to March 2017, along with Gloucestershire and Oxfordshire.

As for completions in the year to March 2017, the highest rates were found in Croydon and Dartford.  Gloucestershire, Leicestershire and Northamptonshire are other counties to have seen high levels of completions.

 

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