Housing supply hits a nine-year high
With Longley Concrete being a leading supplier of precast concrete floors into the UK’s construction industry, we aim to keep up to date with the latest industry news and current affairs.
Recently, the government has released figures that show the housing supply in the UK has hit a record high. 217,350 new houses were added to the UK’s housing stock this year which, is the highest it has been since 2007-08.
The nine-year high for the number of new houses built is an increase of 15% from last year alone. Of the 217,350 new homes that were added to the UK’s housing stock, 183,570 of them were new-builds, which is up a huge 55% increase on the figure four years ago.
Furthermore, the figures also show that as of March 2017 there were 578,000 more homes in England than there were three years ago. These figures reflect the UK’s booming housing market and a nationwide increase in new developments.
The government also announced earlier this year that it aims to build one-million new homes by 2020 and this report shows they are well on track to reach that target. The figures show an encouraging future for housing in the UK as the government is putting housing developments at the centre of its plans to help build the economy.
With all the uncertainties that the nation faces in a post-Brexit Britain, it is encouraging for Longley Concrete that the government is acknowledging the importance of new housing and encouraging investment into developments to help build a stable economy.
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