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News - 19 February 2015

New houses built up by 10% in 2014

ccording to the Department of Communities and Local Government (DCLG), the number of new houses that were built in England last year rose significantly.

A total of 137,000 homes were started in 2014, a rise of 10% on the previous year.

The number of homes being completed rose to 118,760 - up 8% on 2013.

Liz Kennett, Manager of the Accounts Department of ABDS comments:
“However the figures also show that the number of homes being started declined sharply in the final quarter of the year, and in 2014 house-building was still 25% below the peak reached in 2007.”

The 2008 economic crash devastated the housebuilding industry, bringing building levels to their lowest since the 1920s and leading to the loss of a quarter of a million jobs.

The housing charity Shelter said it was particularly concerned about the number of affordable homes being completed.

Campbell Robb, the chief executive of Shelter said: "While a small increase in the number of homes built might be heralded as a success, the real story here is the shocking fact that we're building just half the homes we need in England.”

The Home Builders Federation said that more than 100,000 extra people were now employed in house-building, providing a boost to the economy.

However, it wants further incentives to encourage more development.

"We are still way short of building the number of new homes the country needs," said Stewart Baseley, executive chairman at the Home Builders Federation.

The government has prioritised limited financial resources to housebuilding as a key part of its long-term economic plan. These include

Helping people onto the housing ladder
Over 77,000 households have become homeowners with a fraction of the deposit they would normally require thanks to the Help to Buy scheme, with developers building more as a direct result.
Reforming the planning system

Building more affordable homes
Nearly 217,000 affordable homes have been delivered since 2010; £19.5 billion public and private funding has already been invested in affordable housebuilding, with plans for a further £38 billion which will help ensure a further 275,000 new affordable homes are provided between 2015 and 2020.

Making it easier to convert empty buildings
Introducing permitted development rights to allow office space to be converted into new homes without the need for planning permission from the local authority.


Investing to bring empty homes back into use
The numbers of empty homes are at a 10-year low.

 

Bovis Homes have just reported a 69% rise in annual profits to £133.5m after an "excellent" year.

The number of homes sold rose to a record 3,635, 20% higher than in the previous year, with the average sale price up 11% to £216,600.

On the negative side, extra activity meant labour had become scarcer and more expensive, raising construction costs in 2014 by 12%, although prices of private homes had outstripped this with a rise of 14% over the year.

If you need any help and advice for your business on the implications of central and local Government Funding initiatives and the construction industry, contact Lavinia Newman, Stuart Coleman or Liz Kennett to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

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