Andy Sommerville, Director at Search Acumen, comments:
“The net increase in housing stock could be seen as a proxy barometer for the nation’s economic outlook. You don’t have to be a meteorologist to know we aren’t in the sunlit uplands, but rays of sunshine are starting to break through.
“Figures from the last 10 years show that following a substantial slump in the aftermath of the economic downturn, additional housing supply has been steadily climbing by nearly 15% on average per year between 2012-2017. A dip in 2017/18 – precipitated no doubt by the looming Brexit thunderhead – seems to have been overcome, and we’re now back to a 9% annual increase.
“Fortunately, the government has also woken up to the need to address Britain’s housing shortage in part through technological innovation. This includes implementing data-driven solutions to enable housebuilders to better identify the best areas to build on. We may not be home and dry yet but at least we stand a better chance of getting a roof over our heads.”