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Homebuilding targets needed as supply slides - warning

A senior agency industry figure has criticised the lack of homebuilding targets after the latest Government data showed a drop in supply.

Official figures show that between 1 October and 31 December 2023, the number of dwellings where building work has started on site was 19,080.

This was a 10% decrease on a quarterly basis and a 51% drop annually.

The figures for completions weren’t much better at 39,650, which was down 15% when compared with the same period last year.

Giles Mackay, Hometrack founder and now chief executive of  property data science firm Outra, said: “These statistics are of no surprise following the housing secretary’s decision to revoke mandatory house building targets at the end of last year. 

“If we want real and effective progress made in closing the supply gap we’re seeing stretched across the country, the UK needs a targeted, unwavering strategy which involves a favourable policy environment for developers.”



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