Housing market starts to turn in England
The housing market in England is picking up rapidly, according to the latest national statistics on house building released under the auspices of the UK Statistics Authority. There were an estimated 29 980 seasonally adjusted housing starts in England in the June quarter 2009, up 63% on the previous quarter. The number of starts is, however, 9% lower than the June quarter 2008. This is the second successive quarterly rise in seasonally adjusted housing starts.
Private-enterprise housing starts were 73% higher (seasonally adjusted) than the March quarter 2009, but 12% lower than in the June quarter 2008.
The recent improvement has yet to have an effect on long-term trends. Annual housing starts in England to June 2009 were 41% down compared to the 12 months to June 2008 and 53% below their 2005/06 peak.
Housing completions in England were up by 24% to an estimated 39 320 (seasonally adjusted) in the June quarter 2009 compared to the previous quarter. Compared with the June quarter 2008, completions were up by 7%.
Private-enterprise housing completions (seasonally adjusted) were 27% higher in the June quarter 2009 than the previous quarter and 1% higher than in the June quarter 2008.
Annual housing completions in England totalled 136 140 in the 12 months to June 2009, down by 16% compared with the 12 months to June 2008.