The number of new homes built in England rose 25% in the past year, the largest annual percentage increase in 28 years, new government figures have revealed.
A total of 170,690 new homes have been built in the last year, with more than 700,000 additional homes added to the housing stock since 2010.
Communities Secretary Greg Clark said the figures showed reforms were working and provided further proof of the government’s commitment to building more homes.
The new homes built include 20,600 commercial buildings converted into residential properties, a rise of 65% on the year before. This comes just weeks after the government announced plans enabling offices to be converted into new homes without having to submit a planning application.
Housing minister Brandon Lewis said: “We’ve brought the housebuilding industry back from the brink, giving them the tools they need to get on with the job and build the homes hard-working people need.
“That includes making it easier for developers to turn underused buildings into new homes with today’s figures showing a 65% increase in these kinds of developments over the past year.”
Official figures from the Department for Communities and Local Government showed that in 2014 only 118,760 homes were built. Experts believe that to prevent house prices spiralling, around 245,000 homes need to be built each year in order to meet demand.
Brian Murphy, head of lending at the Mortgage Advice Bureau, said that despite the increase in the housing stock, the market was “by no means out of the danger zone just yet”.
“The number of housing completions is still far below the amount needed – net supply of dwellings remains 24% below the levels seen in 2007-8 – and we are seeing too many homebuyers chasing a single property.
“The government must act on its promise to increase housing supply. Not only through additional policies like the Starter Homes Scheme, but also by ensuring net supply of housing continues to grow at a strong rate.”
