117,000 Homes Built Between 2010 - 11

[OnionTerror]

http://www.independent.co.uk/life-style/house-and-home/property/new-homes-down-by-6-6256056.html

The net supply of new homes in England has dropped by 6% in a year, official figures showed today.

The Department for Communities and Local Government (CLG) said that annual housing supply amounted to 121,200 net additional dwellings from April 2010 to March 2011.

This represents a 6% decrease on the 128,680 net additional homes supplied the previous year, and compares with a steeper 23% fall the year before that, CLG said.

The annual report shows the supply of housing in England by measuring the absolute change in dwelling stock, including the number of completed new house builds and gains or losses through conversions and changes of use, minus demolitions.

The latest new homes figure includes 117,700 new-build homes, 5,050 additional homes resulting from conversions, 11,540 extra homes resulting from a change of use, as well as 1,810 other gains and a loss of 14,890 homes through demolitions.

London saw the biggest decrease of new homes, with a 27% fall on the previous year to reach 17,830 in the latest figures.

The North East saw the biggest supply increase at 26%, reaching a figure of 4,710 more homes in 2010/11.

After tailing off slightly between 2000 and 2002, net housing supply increased for six years in a row, peaking at 207,370 additional homes in 2007/08.

The overall fall in the latest figures was due to 6,500 fewer new-build completions, 1,180 fewer conversions, and 2,060 fewer extra dwellings resulting from changes of use.

The figures were offset by an increase of other types of accommodation, such as mobile homes and temporary dwellings, which rose by 840.

Fewer homes were also knocked down, with a fall in demolitions of 1,440 on the previous year.

[Mr. Piddle]

117,000 more that no-one can afford to buy

[rantnrave]

There are new houses round my way that people have been pretending to build for three years now. It's clear they don't want to finish the things until prices are rising again . Well, they weren't going to give them away were they? The finished ones are half empty 18 months on. Will they drop the price? Will they heck.

[ccc]

It is still quite a lot though isn't it ?

Imagine if net immigration actually ever went negative. These new builds would be selling for tens of thousands.

[FedupTeddiBear]

It seems ludicrous that, when most of the demand for new homes is in the SE and London, the biggest % increase is in the NE where houses are more affordable and there is little demand. The biggest % fall in building was around London, where housing is most needed.

I am aware of a proposed new development near Lincoln of several thousand houses, several miles outside of the city - no public transport links, people battling to find work, near where houses are (not) selling at reasonable prices (under 140K for a 3-bed detached in good village and falling). Of course, asking prices for new builds will be higher than this. Who will buy these? At the same time, there is VERY little being built in East Berks, Hants, Surrey etc, where you might expect the biggest demand!

[tinker]

There are new houses round my way that people have been pretending to build for three years now. It's clear they don't want to finish the things until prices are rising again . Well, they weren't going to give them away were they? The finished ones are half empty 18 months on. Will they drop the price? Will they heck.

+1

Yes, if the houses were needed they would be built!

Saw it myself, where I live, building more of less stopped once the ridiculous prices were no longer guaranteed. Credit and speculation was driving a significant part of a distorted market.