The Office for National Statistics has revealed that annual housing supply in England amounted to 222,190 net additional dwellings in 2017-18, up 2% on 2016- 17.
The 222,190 net additions in 2017-18 resulted from 195,290 new build homes, 29,720 gains from change of use between non-domestic and residential, 4,550 from conversions between houses and flats and 680 other gains (caravans, house boats etc.), offset by 8,050 demolitions.
13,526 of the net additions from change of use were through ‘permitted development rights’ (full planning permission not required). These comprised 11,555 additional dwellings from former offices, 743 from agricultural buildings, 218 from storage buildings, 110 from light industrial buildings and 900 from other non-domestic buildings.
Craig Hall, head of broker relationships & propositions at Legal & General Mortgage Club, said: “Given the current economic climate and current concerns over Brexit, the housing market remains strong. Today’s results are a significant improvement on last year’s, with new build completions up 6.4%.
“New Build is – and will – continue to be a core part of the housing market. Schemes such as Help to Buy and Shared Ownership play a significant role, offering first-time buyers the opportunity to take their first steps onto the property ladder and it was great to see an extension of the Help to Buy Scheme in the recent Budget.
“However, with the Scheme now set to end in 2023, as an industry we need to work together to find a long-term solution to the current affordability challenges. Whether that be a discounted market scheme, encouraging an uptake in Shared Ownership, or lower deposit mortgages, more needs to be done to give every one access to good quality and affordable homes.”
