Private sector builds entire stock of new homes in West Lindsey district

The supply of new homes relies entirely on the private sector in West Lindsey, according to newly-released data.

New homes under construction. Photo by Pixabay.

From April 2017 to March 2018, 170 new dwellings were completed in the area, all of them financed and built by private developers.

The data includes just new houses built from scratch and doesn’t take into account conversions of homes into several flats or changes of use from an office to a dwelling.

The number of completions is 26% down from the previous financial year when 230 residential houses were added to the West Lindsey dwelling stock.

This trend is below the average for England, where the number of newly completed homes rose by 8.5% in one year.

Besides the number of homes completed, building started on 230 new homes in West Lindsey from April 2017 to March 2018, up from 160 over the 2016-2017 financial year.

All these ongoing residential projects are financed by private developers.

Lindsay Judge, senior policy analyst at the Resolution Foundation, a think-tank that works to improve the living standards, said the housing market cannot rely solely on the private sector to increase the supply of dwellings.

“Just as important as hitting housebuilding targets is delivering the right kind of homes. That means vastly increasing the proportion of genuinely affordable homes, and not relying solely on the private sector to boost housing supply.

“But housing associations and local authorities need more money if they are to deliver more affordable homes, which requires central Government to give them larger grants, extend their borrowing powers or allow them to raise additional funds locally for building.

“If the Government really wants to get to grips with Britain’s housing crisis, it also needs to focus on the fastest growing tenure, private rented accommodation.

“Recent plans to scrap letting fees and extend tenancy terms are welcome. But ministers must go further to improve the quality and security in private rented accommodation, not least as a record number of children are now living in privately rented homes.”

From April 2017 to March 2018, around 160,470 new dwellings were completed in England, far behind the government’s goal of supplying 300,000 new homes every year to meet the demand. About 82% of these new dwellings were built by private enterprises.

Taking a long view, house building has been mostly decreasing since the 1960s. The early years of this decade saw house building at its lowest peacetime level since the 1920s.