Today, the latest New Build Dwelling statistics have been released, relating to the April to June 2019 quarter.
The trend we identified in our analysis of the last quarter's statistical release has continued. The picture is stronger for completions than for starts; with starts from previous years of significant housebuilding growth working their way through the system, resulting in a higher number of completions. However, starts in this quarter have declined.
While the sector continues to see growth on previous years, it is clear that the rate of growth is beginning to slow. And the slow rate of starts will eventually be reflected in the completion figures.
Starts have decreased by 2% on the previous quarter and down 8% on this quarter last year. New Build Dwelling starts have decreased 1% this year (July 2018 to June 2019) on the previous year to June 2018. Starts by private enterprise are down 2% on the previous quarter and 4% lower for housing associations.
The picture is significantly better for completions. Completions are up 4% on the previous quarter and 11% on this quarter last year. They are also up 8% on the year to June 2018. Private enterprise completions are up 2% and housing association completions are up a staggering 20%.
It is worth highlighting that this position is significantly better than the financial crash related housing slump. All starts are now 117% above the trough in the March quarter of 2009. And all completions are 79% above the trough in the March quarter of 2013.
Read the full statistical release here.