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23/02/2017
New Build Starts Increased 5% In 2016
New figures have revealed a 5% increase in the amount of new home starts in 2016 compared to the previous year.
The latest house building data shows 153,370 new homes were started in the year to December, the highest level seen since 2007. In addition, over 140,500 homes were completed.
Strong growth was recorded across the country, with Islington and Manchester experiencing high levels of starts, with an increase of 296% and 323% respectively.
Elsewhere, figures from the Council of Mortgage Lenders show first-time buyer lending totalled 338,900 loans in 2016, up 8% on last year.
In its house white paper, the Government set out its new plans for the sector, including a £25 billion in housing over the Spending Review.
Four key aspects of the paper set out new measures to ensure the housing market works for everyone, and help local authorities, developers and SME builders get building.
In addition, £1.4bn has been released for Affordable Housing, and restrictions on funding have been relaxed so providers can build a range of homes including for Affordable Rent and Rent to Buy.
Housing and Planning Minister Gavin Barwell said:
"We've got the country building again with the highest number of housing starts for 9 years. However, we know there's more to be done to build more homes in the places that people want to live.
"Our housing white paper sets out an ambitious set of proposals to deliver more land, speed up build out, diversify the housing market, and support people who need help now."
(LM/MH)
The latest house building data shows 153,370 new homes were started in the year to December, the highest level seen since 2007. In addition, over 140,500 homes were completed.
Strong growth was recorded across the country, with Islington and Manchester experiencing high levels of starts, with an increase of 296% and 323% respectively.
Elsewhere, figures from the Council of Mortgage Lenders show first-time buyer lending totalled 338,900 loans in 2016, up 8% on last year.
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In its house white paper, the Government set out its new plans for the sector, including a £25 billion in housing over the Spending Review.
Four key aspects of the paper set out new measures to ensure the housing market works for everyone, and help local authorities, developers and SME builders get building.
In addition, £1.4bn has been released for Affordable Housing, and restrictions on funding have been relaxed so providers can build a range of homes including for Affordable Rent and Rent to Buy.
Housing and Planning Minister Gavin Barwell said:
"We've got the country building again with the highest number of housing starts for 9 years. However, we know there's more to be done to build more homes in the places that people want to live.
"Our housing white paper sets out an ambitious set of proposals to deliver more land, speed up build out, diversify the housing market, and support people who need help now."
(LM/MH)
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