Professional Realtors in Barnet

Figures from the National House Building Council show that housebuilding is currently running at only half the rate the new Labour government needs to meet its new homes targets. The NHBC says 29,281 new homes were registered to be built in Q2 2024, down 23% on the same period last year. Some 33,847 new homes were completed in the same period, 6% down on Q2 2023. Quarter-on-quarter, NHBC’s new housebuilding registrations and completions are tracking positively, up 34% and 29% respectively. The body says that whilst this uplift is encouraging, the present quarterly rate will need to more than double to deliver Labour’s pledge of 1.5 million homes over the next five years. Steve Wood, NHBC chief executive, comments: “We welcome the new government’s policy to deliver 1.5m homes over the next five years, even if our new build registration numbers show there is a mountain to climb. Scaling up will take time but we can be encouraged by the government’s announcements on new home-buyer incentives, changes to the planning system and investment in infrastructure, including power grids, water supply and roads. “In addition, more must be done to close the national skills gap. With an ageing workforce, a lack of skilled workers could seriously slow down Labour’s plans. Working closely with builders, contractors and Government agencies, NHBC is rolling out a national network of training hubs to help upskill the next generation.