Rate of housebuilding must accelerate

• The government has made clear its commitment to getting new homes built to address the housing crisis and surveys show that growing numbers of people are on-side with the idea of new developments.

• But, it will be challenging. Only 114,000 new homes were built in the first half of 2024 in England and Wales, 11% fewer than the same period of 2022, according to DLUHC.

• Indeed the NHBC, who log completions in a different way, suggest that the rate of new home delivery will need to more than double if we are to deliver 1.5 million homes over the next five years.

• The urgency to reverse any downward trend is clear and much hope is hanging on the Planning and Infrastructure Bill to create a more efficient and better-funded planning process.

• The government has also announced new home-buyer incentives alongside the planning changes, as well as infrastructure investment in power grids, water supply, and roads – all of which should oil the wheels of new home-building. Source: Dataloft by PriceHubbleNHBC, DLUHC, Number of Energy Performance Certificates (EPC) for new dwellings lodged on the Register in England and Wales. July 2024