The number of newly built homes continues to rise and is now at the highest level since 2008 to 2009 according to Department for Communities & Local Government’s quarterly figures on housebuilding.
The figures revealed that 139,690 new homes were completed in the year to March – a rise of 12% on the previous year.
Greg Bryce, managing director of SearchFlow, comments: “The continued rise for the second year now is very promising news for the housing market. The growth in the number of new homes will help relieve pent up demand and fuel a buoyant property market.
“The number of new homes is set to be bolstered further by the government’s landmark Housing and Planning Act which will be instrumental in helping deliver the Government’s ambition to build a million more homes.
“With the economy strong, employment level high, interest rates low and the Government’s housing policies focused on getting the nation to build, activity levels in the housing market is expected to remain buoyant for the second half of the year.”