Today's Housing figures show that in the year to April the supply of New Homes is up by 78% in 5 years. The Home Builders Federation have commented that this indicates that the target set by the Government of building a million homes in this Parliament is going to be set and exceeded.
The demand for homes remains strong notwithstanding Brexit uncertainty and values stalling or falling in some areas. The demand for social and affordable homes is still a continuing issue in many areas even with the increased supply.
The figures show that the housebuilder industry is currently supporting over 700,000 jobs and the HBF have calculated that this means each new home supports over 3 jobs. and last year over £6bn was provided to central and local government via financial contributions raised on new development sites through the planning process. This money is funding local infrastructure and amenities used by those developments and the local communities.
Notwithstanding the increase, the HBF are calling for the Government to do more to build on previous announcements to assist housing associations and local authorities in building more homes to help tackle the housing issue and meet the housing demands.
Speaking today, Stewart Baseley, executive chairman at HBF said; “Today’s numbers are yet another sign that the home building industry is delivering the increases in housing supply the country needs. “Whilst the second-hand market remains sluggish amidst wider economic uncertainty, with Help to Buy enabling first-time buyers to purchase new build homes, builders have continued to invest and increase output.