House building in England has doubled in 6 years

House building in England has doubled in 6 years

The supply and demand issue in the UK property market is one that has caused some concern for a number of years, with many experts claiming that if the problem goes unaddressed, we could see a reality in which house prices are falsely inflated. A severe shortage of homes and a high level of demand would create competition and bidding wars that could potentially push prices far higher than valuations.

However, according to the latest reports, English house builders are doing more than ever before to tackle this issue. 

We've heard in the past year about the growing level of construction that's been taking place across the industry, but the latest official data from the Department of Communities and Local Government suggests construction may be in an even better position than previously thought. 

It said that in the first quarter of this year, house builders were out in force, with starts in the industry having climbed by 31 per cent when compared to the final three months of 2014. There was also an impressive 11 per cent more starts between January and March 2015 than there were in the same quarter last year. 

The headline figure, however, was how much house building has grown in the longer term. According to the figures from the department, there are now more starts across England than there have been at any time since 2007. 

Even more impressively, the number of starts in 2015 is more than double that seen in 2009, showing that the market is doing all it can to meet demand and make sure there is not a severe shortage of homes in the long run. 

"House building is at the heart of our plan to ensure the recovery reaches all parts of our country. We’re turning around an industry that was devastated and getting the country building again," said housing minister Brandon Lewis. 

"These figures show these efforts are reaping results, with house building starts having more than doubled since 2009, and completions at their highest for nearly six years. It is vital we maintain this momentum, getting workers back on sites and homes built, giving more people the chance to own their own home," he continued.