Affordable home completions

Homes England reports 11% increase in affordable home completions

The proportion of Homes England-managed housing completions in 2018/19, which were affordable, increased by 11% on the 2017/18 period.

Between 1st April 2018 and 31st March 2019, 40,289 houses were completed under programmes managed by Homes England, of which 28,710 were affordable (71%).

This was the highest level of completions for four years, while the number of houses started on site (45,692) was the highest for nine years.

Of the affordable homes completed, 18,895 were for affordable rent, while 8,854 were completed under affordable housing schemes, including shared ownership and rent-to-buy.

Joseph Daniels, founder of Project Etopia, said: “Homes England [is] taking on the housing crisis with a sustained dose of horsepower.

“The nine-year high in its housebuilding rate sends a clear signal that it has built up a head of steam, which is helping to propel the market and housing supply forward. 

“Good progress in the past four years, with starts rising year-on-year, takes its building levels almost back to the high seen just after the financial crisis, although there is still a long way to go to satisfy the existing deficit.”

Mark Dyason, managing director at Thistle Finance, added: “For housing start levels to be the highest in nine years — despite the ever-present uncertainty of Brexit — shows there’s hope for the property market yet.

“Crucially, homes are not just being built in greater numbers, but are selling in greater numbers, with the increase in affordable housing especially welcome. 

“While there is political stasis, the development finance market remains fluid and this is showing through in these strong numbers.”

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