Housing starts in England take annual 42% tumble

June 1, 2009
Housing starts in England have plummeted 42% in the past year, according to the government’s latest national statistics on housebuilding. Total starts of all types stood at 90,430 in 2008-9 to the end of March, 51% below their peak in 2005-6. From January to March 2009, starts totalled 18,340, up 13% on the previous quarter, but were still 44% lower than in the March 2008 quarter. David Bexon, md of Smartnewhomes.com, commented that the “severe” lack of new housing starts would lead to a serious shortfall and that the government had failed to act: “The government has shown an incredible nonchalance for the importance of housing production in the overall economic recovery of this country and new homes are likely to remain depressed this year as a result.” The statistics also revealed that private housing starts climbed 10% from the December 2008 quarter to 2009’s March quarter. But since the March 2008 quarter they have plunged 51%. Private housing completions slipped 1% from January to March 2009 and since 2008’s March quarter have fallen 27%. <br>

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