Newly released figures from HM Revenue & Customs for ‘VAT refunds for DIY housebuilders’ show that the self-build market was responsible for more than a third of all the new detached houses and bungalows completed in the UK for the year to March 31st 2011, and 10.2% of all new home completions.
Newly released figures from HM Revenue & Customs for ‘VAT refunds for DIY housebuilders’ show that the self-build market was responsible for more than a third of all the new detached houses and bungalows completed in the UK for the year to March 31st 2011, and 10.2% of all new home completions.
The total number of VAT refunds reported by HMRC for the year was 8,912. Research undertaken by Homebuilding and Renovating magazine suggests that 35.7% of self builders don’t complete a VAT reclaim so this means the total number of self-build completions for the year was around 13,860.
Summary
The market in minutes
- The total number of self-build homes completed in the UK for the year to March 31st 2011 was 13,860, a year-on-year decline of 11.5%.
- The total number of detached houses and bungalows completed in the UK to March 31st 2011 was 37,087 (calculated using figures from the NHBC and LABC), a year-on-year decline of 7.2%.
- The self-build sector constituted 37.4% of detached houses and bungalow completions for the year to March 31st 2011.
- The self-build sector contributed 10.2% of all new UK dwellings for the year to March 31st 2011.
- The average materials spend on a self build project was £103,846.
- The total spend on construction materials by self-builders for the year to March 31st 2011 was approximately £1.44b.
