The construction of new homes in the UK was still below the government’s target of 222,190 per year, and there were signs of a slowdown and regional differences, according to an analysis of government statistics. The figures showed 300,000 new homes in the year to the end of March, the second highest for three decades. The rate of growth, however, was 2% YoY, compared with a 17% average over the past three years, which agents called a “substantial slowdown”. Construction in most regions met local housing need, but fell short in the South East and East of England.
The construction of new homes in the UK was still below the government’s target of 300,000 per year, and there were signs of a slowdown and regional differences, according to an analysis of government statistics. The figures showed 222,190 new homes in the year to the end of March, the second highest for three decades. The rate of growth, however, was 2% YoY, compared with a 17% average over the past three years, which agents called a “substantial slowdown”. Construction in most regions met local housing need, but fell short in the South East and East of England.