Supply boost! New homebuilding hits record levels

Record numbers of housing developments were started during the second quarter of 2022, official figures show.

Government data on housebuilding starts and completions shows the number of dwellings where building work has started on site was 51,730 between 1 April and 30 June 2022.

This is up 21% on a quarterly basis and a 15% annual increase.

It is also the highest level on record, with figures going back to 2002.

Estate Agent Today analysis of the latest Department for Levelling Up, Housing and Local Communities housebuilding data for England shows the last time it was this high was in the first quarter of 2007 when 48,758 developments were started.

Meanwhile, the number of dwellings completed was 44,940.

This is just a 3% increase on a quarterly basis and 6% annually.
 

In the year to 30 June 2022, new build dwelling starts in England were estimated to be 180,820, a 5% annual increase, the figures show.

New build dwelling completions in England were estimated to be 173,530, a 5% decrease when compared to the year to 30 June 2021.

The level of starts and completions also varies regionally.

In the year to 30 June 2022, starts increased in the East Midlands, the East of England, London, the South East and the South West from the previous year. 

The largest percentage increases were 28% in London and 18% in the East Midlands.

Completions increased in the North East, the East Midlands and the East of England from the previous year.

The largest percentage increase was 6% in the East Midlands. In London, completions experienced a 20% decrease in the year to 30 June 2022 from the previous year.

The highest rates of annual starts per 1,000 dwellings was in the East Midlands and the highest rates of annual completions per 1,000 dwellings was also in the East Midlands.

https://www.gov.uk/government/statistics/housing-supply-indicators-of-new-supply-england-april-to-june-2022/housing-supply-indicators-of-new-supply-england-april-to-june-2022