Housing Delivery
The latest figures for new housing supply were released in November 2021 which look back on the financial year 2020-21 and show that the number of net additional dwellings was 216,490, down 11% on the previous year. It is the lowest level for 5 years and the decrease is due, in part, to the restrictions introduced during Spring 2020 in response to the COVID-19 pandemic.
Affordable homes comprised 52,100 of this figure and there were 57,417 starts on site in England in 2020-21, decreases of 12% and 16% respectively when compared to the previous year. The chart below shows the trend for different tenure components of affordable homes delivered (completions).
EPC’ lodgements are one of the most timely indicators of new housing delivery and the most recent data shows that Annualised housing delivery has declined for three consecutive quarters. Only 238,500 new homes were built in the year to Q1 2022, down from the peak of over 255,000 at the same time in 2020.
Changes to the Help to Buy scheme will also impact developments, particularly those specifically targeting first-time buyers. The regional price caps may mean that some potential developments may need to be considerably altered to either reduce the initial asking prices of properties or look at other arrangements such as moving to a build to rent model
2020/21 Net Additional Dwellings
Source: MHCLG
2020/21 New affordable homes delivered
Government annual housing completions target
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