The number of homes being built in England fell by 6% in the last financial year – heaping more pressure on the UK’s growing housing need, figures have shown.
Official statistics from the Government showed that in 2006/07 there were 173,369 housing starts – properties in the early stage of construction – compared to 184,906 in the previous year.
The number of homes being completed did, however, register a 3% increase on 2005/06 figures, up to 167,691 in 2006/07.
Despite a rise in finished homes coming onto the market, the drop in the number of properties in construction is likely to put further focus on UK’s growing disparity between housing supply and demand.
Latest official estimates suggest that an average 223,000 new households will be formed every year over the next two decades.
As such, even with completion figures going up, the last financial year saw a shortfall of around 50,000 houses.
The lack of available property also puts further pressure of first-time buyers, with rising costs pricing many would-be buyers out of the market.
Number of houses being built down