Starts and completions of new build dwellings in the UK, on a quarterly and annual basis, time series data

Private companies were responsible for most of the new homes built in the United Kingdom (UK) in 2023. Housing completions in the UK decreased for three years in a row between 2007 and 2010. This was followed by several years of fluctuation and a gradual increase from 2013 to 2019. The number of homes completed in England remained relatively stable in 2021 and 2022, after reaching a low point in the second quarter of 2020 due to the restrictions implemented to prevent the spread of COVID-19. Construction starts and completions Comparing the number of starts and completions in London side-by-side shows that whenever there is a significant growth or fall in the number of projects started, that peak or valley tends to be reflected in the number of buildings completed a couple of years later. Nevertheless, disruptions, delays, and other obstacles may affect that correlation. Still, observing how many home construction projects started in the UK can provide some insight into the level of activity that construction companies may have in the near future. Given that the number of housing starts is forecast to fall in 2023, there might be slightly less work to be carried out the following year. Nevertheless, housing starts are expected to pick up again by 2024 and 2025. Housing associations in the UK Housing associations are not-for-profit organizations created to develop and rent homes for a lower price than in the private market. They have acquired certain relevance in the UK, although this type of organization also exists in other countries. On several occasions during the past decade, over a fifth of housing starts in London were developed by housing associations. Meanwhile, the number of new homes completed in Scotland by housing associations has increased a lot throughout the years, with several thousand units constructed every year during the past decades.

The Residential Construction Market Report is Segmented by Type (Villas and Landed Houses and Condominiums and Apartments) and Key Cities (London, Birmingham, Glasgow, Liverpool, and the Rest of the UK). The Report Offers Market Size and Forecasts for UK Residential Construction Market in Value (USD) for all the Above Segments.

Time-series data on starts and completions of new build dwellings in English regions on a quarterly basis (now produced by the Department for Levelling Up, Housing and Communities as Table 217).

Time series data on starts and completions of new build dwellings in local authorities across the UK, on an annual basis.

Housing Starts in the United Kingdom increased to 29310 units in the third quarter of 2024 from 25020 units in the second quarter of 2024. This dataset provides the latest reported value for - United Kingdom Housing Starts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Residential building contractors are contingent on the propensity of property developers to invest in new ventures; movements in property prices; government schemes intended to boost the housing supply; and underlying sentiment in the housing market. Industry contractors have endured turbulent operating conditions over the past five years, leading to volatile shifts in revenue and profitability. Revenue is forecast to grow at a compound annual rate of 1% over the five years through 2024-25, reaching £97.4 billion. The pandemic caused a significant drop in output in 2020-21, as restrictions placed on on-site activity and fewer enquiries for new housing units reduced revenue opportunities. Aided by government support for the housing market and the release of pent-up demand, 2021-22 was characterised by a strong rebound in activity, though materials and labour shortages maintained constraints on output. Mounting supply chain disruption and heightened economic uncertainty maintained pressure on output in the following year, though revenue growth was maintained by growth in average selling prices. Interest rate hikes and inflationary pressures led to a more subdued housing market in 2022-23, holding back the number of housing starts and completions during the year. This was followed by a slump in new residential building construction in the following year, as high borrowing costs and uncertain market conditions caused developers to scale back investment plans. Revenue is set to grow by 1.5% in 2024-25, aided by a slight improvement in new orders for residential building construction and an uptick in average selling prices. Revenue is slated to climb at a compound annual rate of 1.5% to reach £105.1 billion over the five years through 2029-30. Housebuilding activity is set to grow in the medium-term, aided by the release of pent-up demand. Nonetheless, significant uncertainty remains, with mortgage rates likely to settle well-above pre-pandemic levels and supply chains remaining fragile. The new government’s pledge to deliver 1.5 million houses during the first five years of parliament will boost demand for industry contractors, though the full impact of this on growth prospects is dependent on the nature and extent of accompanying funding plans.

The annual value of new housing created by the public sector in Great Britain in 2023 was significantly lower than before the COVID-19 pandemic started. In 2023, the construction output value of this segment amounted to over six billion British pounds, while in 2019 that figure had peaked at nearly eigh billion British pounds. In any case, these figures have fluctuated significantly.

The construction industry in Great Britain, including value of output and type of work, new orders by sector, number of firms and total employment.

In Wales, new house building is undertaken by the private sector, Registered Social Landlords (RSLs) and local authorities. The information presented here is based on the reports of local authority building inspectors and the National House Building Council (NHBC). It does not include information from private approved inspectors. The exclusion of this information means that there is currently an undercount in the number of dwellings completed though this is estimated to be quite small. The information shows the number of new dwellings completed in Wales and is collected in order to assess the level of new house building across Wales during the period. The data is used to help monitor trends in both the overall level of Welsh housing stock and the changes in its tenure distribution over time. Data is also used by the Welsh Government and local authorities to assess levels of housing supply across Wales and as an indication as to whether housing need is being met. Figures on housing completions are from records kept for building control purposes. It is sometimes difficult for building control officers and NHBC to identify the intended final tenure of the property (the basis for the tenure information). This may lead to an under-count of social sector new house building and an over-count for the private sector. Within the social sector it may also lead to an under-count of local authority new house building and an over count for the RSL sector. Therefore the tenure data should be treated with caution. New house building funded with capital grant funding includes funding via Social Housing Grant, Recycled Social Housing Grant and Strategic Capital Investment Fund.

Graph and download economic data for Work Started: Construction: Dwellings and Residential Buildings: Total for United Kingdom (WSCNDW01GBA657S) from 1991 to 2022 about housing starts, United Kingdom, buildings, residential, construction, and housing.

Graph and download economic data for Orders: Construction: Permits Issued: Dwellings and Residential Buildings for United Kingdom (ODCNPI03GBQ657S) from Q2 1966 to Q3 2020 about issues, permits, United Kingdom, residential, construction, and housing.

The UK Construction Market Forecast Report Covers Industry Trends and is Segmented by Sector (Commercial Construction, Residential Construction, Industrial Construction, Infrastructure Construction, and Energy and Utility Construction) and by Key Regions (England, Northern Ireland, Scotland, and Wales). The Report Offers Market Sizes and Forecasts in Value (USD Billion) for all the Above Segments.

The value of all housing repair and maintenance in Great Britain increased significantly between 2021 and 2024. In 2020, the level of activity of this segment of the industry fell to less than 26 billion British pounds, but it amounted to 44.5 billion British pounds in 2024.

Quarterly new orders at current price and chained volume measures, seasonally adjusted by public and private sector. Quarterly non–seasonally adjusted type of work and regional data.