8 June 2012
The UK self build market shows signs of ‘good health’, according to the latest research from Homebuilding & Renovating.
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According to the figures, self build home completions rose by 3.75 in the first three months of 2012, the third consecutive quarter of growth. The report says that although the market remains down year-on-year by 12 per cent, from 13,500 to 11,850, the recent figures suggest the market is recovering as completions in Q4 of 2011 were 3.4 per cent higher than the same quarter a year ago.
Self-builders were responsible for 8.25 per cent of all new homes completed in the UK during 2011 and 31 per cent of all new detached homes (figures from DCLG and HM Revenue & Customs). With adjustments to the figures for projects where VAT is recovered by other means, the total number of self-build home completions during Q4 2011 was 3,185.
Steady recovery
In summary, Homebuilding & Renovating suggests that self build completion numbers are in steady recovery, following their previous low point in Q2 2011. It says that the average duration of a self build project is 18-24 months, so the fall in project starts may have bottomed out in early 2009 when the wider housing market also began to see signs of recovery.
You can view the full report here
