18 Nov

Rise in available new homes

Rise in available new homes

There has been a ten per cent increase in new homes being built in England, according to new figures.

Data from the Department for Communities and Local Government shows there were 130,340 new build homes in 2012/2013.

A further 4,470 homes became available as a result of conversions and 12,520 from changes of use. There were also 1,330 other gains, but a loss of 12,520 through demolition of existing properties.

Despite the increase, there are still concerns within the industry that this remains significantly below previous peaks and demand is continuing to outstrip supply.

In 2007/2008, a total of 223,530 homes were constructed in England - 39 per cent above current levels.

A large share of the new properties were in the capital. London was responsible for 17 per cent of the new homes, with the boroughs of Newham and Southwark seeing the greatest activity.

Andrew Bridges, managing director of specialist London estate agents Stirling Ackroyd, stressed that the lack of homes within London would continue to push up prices and stop people stepping on to the property ladder.

"People are beginning to believe they could be better off at this point next year. But in terms of affording a home, the financial marathon is far from over and this is particularly true in our capital city," he explained.

He added it was vital to speed up the house building process to ensure there were enough properties available in the key areas.

"London’s economy is moving faster than ever, more than playing its part in the UK’s wider recovery. But keeping that dynamo spinning will require homes for the millions working to make that reality. Developers now appear to be rising to the challenge," said Mr Bridges.ADNFCR-1222-ID-801760986-ADNFCR

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