In the 12 months leading up to June 2024, only 230,000 homes were granted planning approval - the lowest figure since the early 2010s, representing a 45% drop from the peak.
Neil Jefferson, Chief Executive of the HBF, warned of the wider consequences of the planning slowdown. 'The steep fall in planning permissions starkly illustrates the challenge... to boost housing supply.'
London saw a 20% drop in approved units in Q2 of 2024 compared to the previous quarter and a staggering 42% decrease from the same quarter in 2023.
Significant regional disparities emerged, with the North East and East Midlands experiencing a 50% and 42% decline in planning approvals, respectively.
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