Savills predict building boom
THE number of new homes being built in the UK is set to increase to 167,000 per year by 2018, according to Savills.
This is still short of the 240,000 a year required to meet the Government’s target but it is a 55 per cent rise on last year’s total.
Savills forecast that private sector builders will increase production by eight per cent annually between now and March 2018.
The research also believes there will be growth in the number of new homes built by or for local authorities from 1,665 this year to 10,000 in 2018. Housing associations are set to deliver 26,000 new homes in 2014 and 34,000 in 2015, up from 22,000 completions in 2013.