New housing starts fall in England despite govt campaign to boost the building sector
06-09-2012
 |
The latest figures from the Department for Communities and Local Government covering the June Quarter 2012 show that seasonally adjusted house building starts in England stood at 21,540, 10% lower than in the March quarter 2012.
Completions also fell, down 6% to 29,470 with the figures also showing that private enterprise housing starts were 7% lower and housing associations starts were down 23%.
Seasonally adjusted private enterprise completions fell by 5% and housing association completions fell by 11% from the previous quarter.
Seasonally adjusted starts are now 27% above the trough in the March quarter 2009 but 54% below the December quarter 2005 peak. Completions are 39% below their March quarter 2007 peak.
Annual housing starts totalled 98,670 in the 12 months to June 2012, down by 10% compared with the year before. Annual housing completions in England reached 118,330 in the 12 months to June 2012, an increase of 8% compared with the previous 12 months.
In the 12 months to June 2012 starts increased in three regions and fell in six compared with the previous year. The largest increases were in the North East and North West where starts increased in both regions by 8%. The biggest fall was in London where starts fell 22% followed by Yorkshire and the Humber where starts fell 18%.
The greatest number of starts were in the South East, accounting for 18% of all starts in England. London had the second greatest number and accounted for 16% of all starts. The fewest starts were in the North East with 4% of starts in England. This partly reflects the fact that the North East is the smallest region in terms of housing stock with only 5% of English dwellings.
Completions increased in most regions in the 12 months to June 2012, falling in only the East and West Midlands. The largest increase was in London where completions rose by 23% compared with the previous year. The North East and South West saw increases of 15% and the South East had 14% more completions than the previous year. In the East Midlands annual completions fell by 6% and in the West Midlands by 5%.
The South East saw the greatest number of new build homes completed in the 12 months to June 2012 with 19% of all completions in England. The North East had the fewest completions, accounting for 4% of the England total.
Starts experienced a period of sustained growth from 2001 until 2005. From 2005 starts were broadly steady, averaging around 44,000 units each quarter until late 2007. Completions increased gradually reaching a similar level to starts by 2007.
Starts were strongly affected by the economic downturn and from the start of 2008 there was a period of rapid decline to a trough in the March quarter of 2009. Completions fell more slowly than starts but over a longer period. From 2009 starts began to recover and during the next two years both series converged and levelled out. Over the last year and a half completions have tended to show a slight rise, but starts have fallen somewhat in the last two quarters.
Tags : house for rent in hanoi - apartments for rent in hanoi
