Property starts down 14%

The number of housing starts in England fell by 14% in the second quarter of 2015 to approximately 33,280, according to government statistics.

This decrease follows the 29% increase in the quarter to March and leaves starts some 6% lower than during the same period last year.

And starts are still 32% below their March quarter 2007 peak, however they are still 94% above the trough in the March quarter of 2009.

Seasonally adjusted starts decreased in both the private enterprise and housing association tenure. In the private enterprise tenure starts decreased by 12% from the previous quarter.

Housing association starts decreased 23% from the previous quarter and starts by local authorities also decreased.

However seasonally adjusted completions for the quarter were 35,640, around 4% higher than the previous quarter, and leaves completions 22% above their level in the same quarter a year ago.

Seasonally adjusted completions increased in the private enterprise tenure and in the housing association tenure. In the private sector completions increased by 4% from the March quarter 2015. Completions by housing associations increased by 6% from the previous quarter.

Annually, 136,320 homes were started in the 12 months to June 2015, a 1% decrease from the 12 months to June 2014. This is 26% below the peak in the year to December 2007, but up 81% compared with the trough in the year to June 2009.

Annual completions were 15% higher than the previous year. Private enterprise housing completions were 11% higher than in the year before whilst completions by housing associations rose by 30% over the same period.

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