Since the 1970s, housing starts and completions across England and Wales have largely been on a downward trajectory.
The long-run average (over the last 50 years) for starts and completions has been around 190,000 per annum but after the global financial crisis lows of 93,000 (starts) per annum and 113,000 per annum (completions) had been reached.
The chronic shortage of housing supply in the UK relative to demand has been a national issue for decades. The Government are committed to delivering a million new homes by 2020. Yet with limited land availability, rising costs and shortage of skilled labour the government and the house building industry need to become innovative with regards to how housing is built if those targets are to be met. Continue reading Is building homes in factories the solution to the UK housing crisis?