Figures show housebuilding faltering as developers call on ministers to address rising costs

Figures show housebuilding faltering as developers call on ministers to address rising costs

Housing Secretary Steve Reed wants Britain to "build, baby, build" towards the government's flagship 1.5 million homes target by the next election. But housebuilding in England has slowed to its lowest level in nine years, with the number of homes built falling by 6% to 208,600 in the year to March 2025.

Why developers are worried about 'jaws of death' in England's housing

Housing Secretary Steve Reed wants Britain to “build, baby, build” towards the government’s flagship 1.5 million homes target by the next election. But housebuilding in England has slowed to its lowest level in nine years, with the number of homes built falling by 6% to 208,600 in the year to March 2025. A combination of rising building costs and weakening house prices has left “half of the country unviable (for development projects) and the oth…

Figures show housebuilding faltering as developers call on ministers to address rising costs

TL;DR Housebuilding in England has dropped to its lowest level in nine years, with a 6% decline resulting in only 208,600 homes completed, significantly below the government’s target for 1.5 million homes before the next election. Rising construction costs, worsened by increased material prices and high interest rates, have made development unviable in nearly half [...]