Affordable housing development starts up 24% year-on-year whilst completions fall by 7%
The public body responsible for managing the Government’s housing market development schemes has reported a surge in affordable housing starts.
Homes England is responsible for increasing new housing delivery in England, including affordable homes and properties for sale or rent.
According to their data, there were 16,955 starts on site for affordable housing developments between April the 1st and September the 30th.
This is the highest level of starts for 10 years and a 7% year-on-year increase. Housing completions meanwhile declined by 7% compared with last year but still totalled 14,792, the second highest figure for this time of year since 2011.
Affordable housing was the most significant contributor, making up 73% of all housing starts on site at 12,310 and representing a 24% year-on-year increase.
Similarly, affordable homes accounted for 70% of all housing completions, although this was a drop of 7% compared with last year’s figures.
Homes England noted that this decline is the “result of delivery at certain points of a programme cycle of different and overlapping funding streams.”
According to the latest Government construction figures from the MHCLG, the total number of net additional dwellings increased by 9% year-on-year to the highest level in nearly 30 years.