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  • Writer's pictureSarah Ruivivar

New-Build Housing Crisis: Numbers Plummet

Image Credits: Landlord Today

Shock figures reveal a dramatic decline in new-build housing approvals.


The year to March 2024 saw the fewest new housing sites consented since data collection began in 2006. The housing pipeline is now even smaller than during the aftermath of the Global Financial Crisis.


Planning permissions, a key indicator of future supply, have dropped significantly. The latest numbers confirm industry warnings about the impacts of changes to the planning system and the ongoing lack of support for first-time buyers. The figures highlight the stark challenge a new government faces to increase housing supply in the coming years.


 

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A new report from the Home Builders Federation (HBF) shows alarming trends:


  • The number of units achieving planning permission in the year ending Q1 2024 was 236,644, the lowest since Q3 2014.

  • The number of units approved during Q1 2024 was the lowest quarterly total since Q2 2015.

  • The number of sites granted permission in Q1 2024 in England was the lowest quarterly figure since 2006.

  • The rolling 12-month total of new sites consented was the lowest recorded in more than 18 years.


Regionally, London saw a 39% drop in approved units compared to the same period last year. Other regions like the East Midlands and Yorkshire and the Humber also saw significant declines.


The HBF has published a Blueprint for the next government to address these issues. Key recommendations include reinstating mandatory housing targets, fixing the planning process, and providing effective support for first-time buyers. They also call for a resolution to the nutrient neutrality issue, which has blocked 160,000 homes.


Stewart Baseley, executive chairman at HBF, emphasises the urgency: “Reversing the trend will require immediate and drastic action to remove the significant barriers to housing delivery we face.”



 

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