Provisional figures for 2024/25 suggest that the number of new homes started, the number completed and the amount of land unlocked for development, all surpassed the targets set by the government.
According to Homes England, 36,000 homes were completed, up 14% from the 2023/24 figure and work started on 38,000 homes, up 6% on the previous year.
Land capable of delivering 79,000 extra homes was cleared for development, which Homes England said is also significantly up on the previous year.
Homes England chief executive Eamonn Boylan said: "Our 2024/25 performance figures reflect the Agency鈥檚 determination and passion for housing and regeneration. We鈥檝e exceeded our delivery targets by supporting our housebuilding partners to create much-needed new homes and we鈥檝e worked more closely with mayors across the country to champion place-making and drive regional growth."
Housing minister Matthew Pennycook added: "Last year I set out ambitious priorities for Homes England and I am pleased that the Agency have exceeded key housebuilding targets to ramp up the delivery of new homes and place-based regeneration. This is alongside backing SME housebuilders and bolstering the government鈥檚 wider devolution agenda to unlock much-needed housing and growth."
In March, chancellor Rachel Reeves revealed in her spring statement that the government鈥檚 manifesto target of 1.5 million new homes built by 2030 will probably be missed and the figure is likely to be less than 1.3 million.
Dr David Crosthwaite, chief economist at the Building Cost Information Service (BCIS) said: 鈥淲hile the Homes England starts and completions data are relatively positive, they are a drop in the ocean in terms of the new homes that need to be delivered if the government is going to get anywhere near its target.
鈥淎chieving 1.5 million new homes by the end of this Parliament requires sustained delivery of around 300,000 new homes annually and the Homes England figures cited represent just over 10% of the new homes needed to reach that target.
鈥淭he target was always unrealistic given that the government doesn鈥檛 control the supply of housing. That鈥檚 down to the house-builders and they are profit maximisers, which means they very carefully control the supply of new homes to maintain price levels.
鈥淭he long-term average for new homes completions is around 240,000 homes per year, so the likelihood is that the government will fall short of their target by about 300,000 homes.鈥�
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