New build dwelling starts increased 17 per cent in Q3 compared to the previous quarter, while completions decreased 13 per cent.

According to the latest indicators of new supply in England, published by the Ministry for Housing, new starts increased while completions fell over the period compared to Q2.
The seasonally adjusted figures, between 1 July and 30 September 2024, show that new build dwelling starts in England were 29,310.
This is a 38 per cent increase compared to the same quarter the previous year.
However, the Ministry for Housing noted that several housebuilders may have brought forward project starts to avoid the costs of complying with new building regulatory standards introduced in June 2023, owing to the sharp peak in Q2 2023 and corresponding low levels in Q3 2023 and Q3 2024.
In terms of dwellings completed, Q3 saw a 13 per cent decrease to 36,580 compared to the Q2 with 42,590.
Q3 completions also represent a 12 per cent decrease when compared to the same quarter of the previous year.
Completions are 26 per cent below their Q1 2021 peak and are 127 per cent above their Q2 2020 trough, which fell dramatically due to restrictions introduced during the COVID-19 pandemic.
Trends in starts and completions during Q3 2024 were similar up to the period of economic downturn of 2008, when both starts and completions fell.
From 2009, starts began to recover and during the following three years both series converged and levelled out, before reaching their lowest level in the June quarter 2020.
Following a sharp uptick in the September quarter 2020, starts have been more volatile, peaking in the June quarter 2023 and then falling sharply in the second half of 2023.
In terms of annual housing supply statistics, the latest Ministry for Housing shows housing supply in England totalled 221,070 net additional dwellings in 2023-24, a 6.5 per cent decrease on 2022-23.
Meanwhile, earlier this month it was revealed that planning approval for Q3 2024 reached a record low according to the latest Housing Pipeline Report from the Home Builders Federation.
The report revealed 2,260 sites were approved in the months of July to September, a 10 per cent decline from the previous quarter and the lowest quarterly total recorded since HBF reporting began in 2006.
These figures come as Labour continues to implement its new mandatory housing targets, growing to 370,000 a year from 300,000 for all councils in England.
In the Autumn Budget, Chancellor Rachel Reeves also allocated an additional £3 billion in housing guarantees to be made available to help builders apply for more accessible loans from banks and lenders.
The new package aims to support SME housebuilders and the Build-to-Rent sector, and deliver more than 20,000 new homes.
On top of that Reeves also pledged to increase the housing supply to over £5 billion, with £500 million injected into the current affordable homes programme, increasing it to £3.1 billion.
Note on figures
The housing supply figures are based on building control inspection data submitted to the department by local authorities, the National House Building Council (NHBC) and other independent approved building control inspectors.
In October 2023, the Building Safety Regulator (BSR) became the Building Control Authority for all higher-risk buildings in England.
Higher-risk buildings are defined as new residential buildings that are over 18 metres or 7 storeys with at least 2 residential units, and hospitals and care homes that meet the same height threshold.
Data from the BSR on how many starts and completions of housing units it has inspected or certified for building control purposes since its creation are not yet included in these statistics.
As such, the figures for October 2023 to September 2024 may undercount starts and completions to some extent.
Was this interesting? Try: Bridge specialist Nusteel Structures sold to staff
If you have a tip or story idea that fits with our publication, please contact the news reporter/editor
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.