Housing Starts Data
With Thanks to Professor Noble Francis.
Housing starts in 2019 Q3 (39,510 homes ) were 2% higher than 3 months ago but 11% lower than a year ago. Completions (46,000) were 2% higher than 3 months ago & 11% higher than a year ago.
Private starts in 2019 Q3 were 3.4% higher than in Q2 but 9.1% lower than a year ago. Housing Association starts in 2019 Q3 were 4.2% lower than in Q2 & 21.3% lower than a year ago. Private completions in 2019 Q3 were 4.6% higher than in Q2 & 12.3% higher than a year ago. Housing Association (HA) completions in 2019 Q3 were 14.3% lower than in Q2 but 4.7% higher than a year ago.
Completions rose in 2019 Q3 as house builders & HAs continued to build out in line with demand in the North & Midlands but uncertainty caused a hiatus in decision-making with the uncertainty impacting on majors (& particularly larger medium house builders putting their own money in) & HAs (increasing reliant on private sector). It will be interesting to see if the reduction in political uncertainty following the majority General Election leads to an end to the hiatus in starting those new developments during 2020 Q1 & Q2.
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