The latest data released by the ONS shows that the number of houses being both started and completed across the UK within the financial year of 2018/19 is at its highest in 11 years.
The figures show there were 202,260 homes started in this year, up 1.7% on the previous year and the highest number of starts since 2007-08 when 219,090 homes went under construction.
In addition, there were some 203,950 homes completed in the 2018/19 financial year, a boost of 6% on the previous year and again, the largest total since 2007-08 when 215,860 homes were completed.
This increase was reportedly seen across the board with completions increasing within private enterprise, the housing association space and by local authorities.
Founder and CEO of Stone Real Estate, Michael Stone, said: “It’s been widely prophesied that the UK property market ground to a halt as a resu lt of Brexit uncertainty.
“However, while the average buyer and seller may have sat tight and refrained from a purchase or sale, UK housebuilders battled on to ensure the supply of new homes reaching the market not only remained robust but hit its highest levels in over a decade.”
He added: “This is seriously impressive given the wider economic backdrop and means that we have a very firm foundation to build on, now that life has started to return to the market.”