The number of new homes developers have started building have “more than doubled” since June, new figures have revealed.
The report, published by the Ministry of Housing, Communities & Local Government (MHCLG), show that homebuilding has “bounced back” despite continued lockdown restrictions.
According to the official housing supply statistics, 35,710 new homes were started in the third quarter (July to September) of 2020, representing a 110 per cent increase compared to the previous three months.
Some 45,000 new homes were also completed during the same period, representing a 185 per cent increase compared to the previous quarter.
The figures come after the Government extended planning permission deadlines and introduced flexible working hours so developers could continue to build new homes, and kept the property market open throughout the national lockdown so homes could continue to be bought and sold.
The Stamp Duty cut – scheduled to end on 31 March – also helped thousands of prospective homeowners secure their dream home.
Commenting on the report, Housing Secretary Robert Jenrick said the figures “reflect” the housing and construction industry’s resilience.
“Today’s figures show that the number of new homes developers have started building have more than doubled compared to the previous quarter and the number of completed homes has almost tripled. This reflects the government’s commitment throughout the pandemic to support industry to enable construction sites to remain open and operate safely,” he said.
The figures come shortly after the Government announced the new Right to Regenerate scheme, which may allow developers to purchase and build new properties on unused council-owned land.
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