“These latest figures show a decrease of 10% in housing starts in England during the third quarter of 2014, compared to the second quarter, which at first glance appears to be startling. However, when looking at the bigger picture almost 140,000 homes were started in the 12 months to September 2014, which is a significant increase from the same period last year.
“Completions are 5% higher than the previous quarter so overall the house building picture seems to be improving. But while housing starts are 93% above the low of March 2009, we are still a third below the peak in 2007 so there is room for improvement. It is more important than ever that house building keeps pace with demand, as this will put a cap on house price inflation and ensure that more people can get onto the housing ladder.”
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Johnathan Priestley, Cicero Group
Phone: 020 7297 5965
Notes to Editors:
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