Property Building Increases Across the UK

A lack of new homes is one of the reasons why parts of the property market remain problematic.

But the number of properties under construction is increasing across the UK.

The latest HBF Housing Pipeline report shows that planning permission was granted for 52,534 new homes in Q4 of last year, the highest quarterly total since Q1 2008. In total 174,471 planning permissions were granted in England in 2013, the highest annual figure since 2007.

Stewart Baseley, Executive Chairman of the HBF, said: “The increase in planning permissions will help support a continuation of the big increase in house building activity we have seen since early last year.

“After some very tough years, that saw housing supply drop to record low levels, it is now increasingly evident that house-building activity is on the up.

“Help to Buy Equity Loan is increasing demand for new homes and the industry is increasing its output as a result. People’s inability to buy in recent years has been the biggest constraint on the industry’s efforts to build more homes. If people can buy, builders will build. Help to Buy is allowing people who can afford to buy a home to do so, meaning builders can get on with building the homes the country needs.”