The number of new homes completed fell in the second quarter

Emma Haslett
Follow Emma
Increase In Housing Starts At End Of Year Signals Housing Market Recovery
The number of new homes completed dipped in the second quarter (Source: Getty)

The number of new homes completed fell in the three months to the end of June on the year before, suggesting fears over the outcome of the EU referendum were worrying builders.

Some 34,920 new homes were completed in the three months between the beginning of April and the end of June, two per cent lower than a year ago, according to figures from the Department of Communities and Local Government. However, the figure was seven per cent higher on the previous quarter.

Meanwhile, the number of new homes started during the period rose two per cent to 36,400, six per cent higher than a year ago and two per cent higher than the previous three months.

Part of the reason behind the fall was down to housing associations, where new starts fell six per cent on the previous quarter (although completions were 29 per cent up - swings and roundabouts). Meanwhile, the number of new homes started by private companies rose four per cent, while completions rose three per cent.

The figures only cover a week after the Brexit vote, when housebuilders' share prices plunged as investors began to show their nerves.

In the last couple of days, things have begun to look up after FTSE 100-listed Persimmon posted figures showing trading had been resilient since the Brexit vote. But housebuilders were among the biggest fallers today, with Persimmon falling 2.25 per cent to 1,868.5p in lunchtime trading, while Barratt fell 1.6 per cent to 492.3p and Berkeley Group fell 1.5 per cent to 2,677p.

Related articles