UK Housing Supply 2021

Energy Performance Certificate (EPC) data shows nearly 244,000 homes were built across England in 2021. That comes close to matching the 255,000 built in 2019. However, 272,000 new homes were granted in 2021 meaning only 89% of the given quota was met.

Consents dropped below 2020 figures in every region apart from London and the North East. Construction has begun to show signs of pre-pandemic levels but the pressure of new homes is being felt in the land market, as values are sharply increasing. At Sirius Partners, we must focus on ensuring not to pay a premium for consented plots, as supply is limited, and the demand remains strong. The overall market supply of new homes is therefore likely to fall in 2022 due to these combined pressures.

London delivery remained less than half of housing need in 2021. The capital issued consent for 29% more new houses than were delivered in 2021 which can hopefully go some way to help combat London’s persistent shortfall in housing requirements.