Housebuilding on the rise

A reported rise in the number of new homes being built has been welcomed by Housing Minister Brandon Lewis.The latest housebuilding figures show starts on new homes in 2014 totalled 137,0...

A reported rise in the number of new homes being built has been welcomed by Housing Minister Brandon Lewis.

The latest housebuilding figures show starts on new homes in 2014 totalled 137,010 – 10% higher than in 2013 and at their highest annual total since 2007.

And in London, starts in 2013 to 2014 were the highest since 2005 to 2006.

Overall 700,000 new homes have been delivered since the end of 2009 – and over 200,000 of which have been since the launch of the Help to Buy scheme.

Housing Minister Brandon Lewis said: "We inherited a broken housing market in which builders couldn't build, lenders wouldn't lend and buyers couldn't buy. We've done a lot to help get the housing industry back on its legs, but there's more to do.

Today's figures show we're on track and turning this around. Now, housebuilding levels are at their highest annual total since 2007, and first-time buyers are getting on the property ladder in record numbers.

This is thanks to our long-term economic plan and efforts to tackle the deficit we inherited, which are keeping interest rates at their record low and mean now is the best time on record to take out a mortgage."