The latest housing pipeline report from the Home Builders Federation (HBF) and Glenigan revealed that housing supply is up 74% in the past four years, with more than 217,000 new homes completed last year.
The 351,169 permissions granted in England in 2017 was the highest since HBF and Glenigan started the housing pipeline series in 2006.
In addition, the number of plots approved last year was 35% higher than in 2006, however, there were 3.5% fewer sites permitted in 2017.
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“The record number of applications being submitted and approved is a clear demonstration of the industry’s commitment to ramping up housing supply even further than the unprecedented increases of the last four years,” said Stewart Baseley, executive chairman at the Home Builders Federation (pictured above).
“To build more homes, [we need] more land to come through the planning system more quickly, and to encompass a broader range of sites.”
Allan Wilen, economics director at Glenigan, added: “The residential development pipeline remains strong, with a rise in approvals during the fourth quarter taking the total for 2017 to 351,169 units, a 21% increase on the previous year.
“The increase in approvals bodes well for potential new housing activity over the coming year as housebuilders are able to bring forward development on these new sites in response to demand.”