Builders warn of 50,000 fewer new homes

Figures from the Home Builders Federation show 110,598 homes were completed in the first half of 2023, marking an 11% decline on 2022 and a 12% fall compared to pre-pandemic levels. The number of new homes receiving planning permission in the three months to June was down 20%, year-on-year. Reflecting on the data, Rico Wojtulewicz of the National Federation of Builders said: “If things continue, we could see up to 50,000 fewer homes being completed over the next 12 months.” He added: “The Government's plan to stop mandatory minimum housing targets, and higher interest rates have slowed housing sales,” going on to describe this as “a perfect storm.”

Daily Mail (25/09/2023)