House Building in UK Falls by 24%

Latest figures show the decline of new homes being constructed in UK during the second quarter of 2012.

2012-08-23

LONDON, ENGLAND, August 23, 2012 (Press-News.org) A report published by the National House-Building Council reveals that the number of new homes being built has fallen by 24 per cent in the second quarter of 2012 across the UK.

The number of new build homes that have been registered is 25,798 during the second quarter, compared to 33,820 registered in the second quarter of 2011.

The latest figures show that house building projects that have started in the UK stood at 21,540 in the second quarter of 2012, down 10 per cent from the first quarter while completions also decreased, down 6 per cent to 29,470. The total of new build homes registered in June 2012 stood at 8,328 which is 43 per cent lower than the 14,565 new homes that were constructed one year earlier in June in 2011.

The figures also revealed that the number of properties and new homes for sale being registered in the private construction sector fell by 10 per cent compared to June 2011. Public sector registrations dropped by 49 per cent during the second quarter compared to the same period in June 2011.

The decreased volume of homes being built will further exacerbate the shortage of homes across the UK and the lack of affordable housing that is available for first-time buyers. The shortage of affordable houses is set to increase because the lack of funding that is being invested into building new houses.

The greatest decrease in the construction of new homes is in Greater London with 3534 less homes being built than in the second quarter of 2011. This is followed by the East of England, including new homes in Norfolk and new houses in Suffolk with 1759 less homes being built. The South East is the third highest decrease with 1498 less homes being constructed.

There are areas, however, that have bucked the trend and increased the number of new homes during the second quarter. These areas include the North West of England, the East Midlands and Wales.

Notes to Editors:
What House? is a leading property website that features thousands of new homes in Lincolnshire and across the UK. It also provides the latest property news, valuation of homes and property and mortgage advice. Over the last 31 years, What House? has held their annual What House? Awards, which are the longest established New Homes awards in the UK recognising UK house builders and developers across 21 categories.

What House? is a property website portal. For further information go to: http://www.whathouse.co.uk.

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House Building in UK Falls by 24%

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