MortgagesAug 26 2016

Number of newly built homes increases 6%

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Number of newly built homes increases 6%

Figures show the number of newly built homes has increased 6 per cent in the last year.

According to the latest house building data, released by the Department for Communities and Local Government, 139,030 new homes were completed in the year to June and have continued to build gradually over the last two years.

In total more than 144,280 homes were started in the year to June 2016.

Alongside this, figures from the Council of Mortgage Lenders show there are more first-time buyers than at any time since 2007, with 72,800 in England in the second quarter of 2016.

Across England, there is strong regional growth in London, Swindon and Wakefield, all of which experiencing high levels of completions.

In London, 24 per cent more homes were being built in the year to June 2016 than the previous year. Local authorities in Greenwich and Waltham Forest have seen completions soar 126 per cent and 103 per cent respectively over the same period.

In Swindon and Wakefield completions were up 104 per cent and 41 per cent respectively.

Figures published last year show that the total number of new homes across the country rose by 25 per cent in 2014 to 2015.

This took into account all homes, including new builds, houses that have been converted into flats and buildings whose use has been changed to residential.

Communities secretary for the Department for Communities and Local Government, Sajid Javid said: “We’ve got the country building again with more new homes started and built than this time last year.

“This is real progress but there is much more to do. That’s why we are going further and increasing our investment in house building to ensure many more people can benefit.”

ruth.gillbe@ft.com