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New builds at highest level since 2007

News   •   Feb 24, 2017 16:33 GMT

The number of new builds for housing has hit a 9-year high, continuing to rise.

New figures show that the number of new build homes that have begun construction continued to rise last year to the highest level since 2007.

The data shows that 153,370 new homes were started in the year to December, up 5% on the previous year.

In the year to December 2016, more than 140,500 homes were completed.

According to figures from the Council of Mortgage Lenders first-time buyer lending was up 8% on last year, totalling 338,900 loans in 2016, up 8% last year.

Housing and Planning Minister Gavin Barwell said: “We’ve got the country building again with the highest number of housing starts for 9 years. However, we know there’s more to be done to build more homes in the places that people want to live.

“Our housing white paper sets out an ambitious set of proposals to deliver more land, speed up build out, diversify the housing market, and support people who need help now.”

Islington and Manchester experienced high levels of starts in the year to December 2016, with an annual increase of 296% and 323% respectively. Figures show a strong growth across the country.

The government’s recently published housing white paper revealed ambitious new plans to tackle the housing crisis and build more homes across England.

The government plan to invest £25Bn in housing over the Spending Review, making building homes the main priority.

Affordable Housing has received £1.4Bn of funding, and restrictions on funding have been relaxed so providers can build a range of homes including for Affordable Rent and Rent to Buy which help people save for a deposit before they buy.

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