The indicators of housing recovery are reflected in all sectors, with private developers and RSLs reporting an increase in Starts. Only one of the leading private developers reported a decline, although there were some wide variations between companies.
Expectations for next quarter were similar, with slightly more optimism from the National private developers than Regional. Wales and West Midlands were the most optimistic regions. This was also reflected in the number of new sites expected to be opened in the coming quarter.
The time between the decision to construct and starting on site averages has come down, reducing further between the start of construction and sale of the property.
A number of the leading private developers report around a quarter of Starts being Social Housing, but there is polarisation between those companies selling none into Social Housing and those selling significant volumes. This is mirrored by RSLs who, with a few exceptions, either purchasing more than half of stock from private developers or none.
Adoption of the Code for Sustainable Homes (CSH) by private developers is now widespread for Level 3 and starting for Level 4 or above.
The proportion of multi-occupancy homes built by private developers is now below all other types. This trend is repeated throughout the regions.
The proportion of private developer Starts using either Timber or Steel frame construction is now significant. There is also interest in new modern methods of construction and new construction materials.