While the world waits on Brexit, we wait on an exciting piece of news: the NET ADDITIONAL DWELLINGS (housing supply) numbers due out tomorrow morning at 9:30am, 15 November 2018.
Last year's net housing numbers showed a tremendous performance, over 217,000 new homes added to England's housing stock. Notwithstanding industry concerns over affordability, Brexit, macroeconomic factors including inflation and sluggish wage growth, the updated housebuilding figures for September 2018 showed a sustained growth this year, up another 20,000 on last year's figures.
Now housing supply and housebuilding statistics are not like for like. Our technical page has some explanation of that. However, last year's figures suggest that 2018 should be now outperforming the previous high-point of 2007/08.
If housing growth has locked in then look to see that figure to be north of 200,000+ for new build housing and 240,000+ homes in total new supply. To reach that 300,000 homes target, this is the kind of acceleration that will be needed.