UK house-building hits post financial crisis high

UK house-building hits post financial crisis high
17/11/2016 , by , in INTERNATIONAL

Britain built the largest number of new homes since the global financial crisis during the year to the end of March, annual figures showed.

A net 189,650 new homes were created in the 12 months to March 2016, up 11 percent from the same period in a year earlier and the highest since 223,530 extra dwellings were created in the 12 months to the end of March 2008.

The Federation of Master Builders, an industry body that represents smaller housebuilders, said construction levels still fell short of a government target for the industry to build a million new homes between 2015 and 2020.

“The current figures also show a strong reliance on the conversion of existing buildings to residential use, which is a trend that can’t be sustained indefinitely,” the Federation’s chief executive, Brian Berry, said.

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