New Homes Market Outlook 2023
In 2022, nationwide housing completions were at their highest level in 13 years with an estimated 26,000 units finished, while this remains 25% higher than the previous three years, this still remains well below what is required. With rising construction costs taking hold, commencement notices for new schemes began to decline during summer 2022. This means that from mid-2023, new home supply will drop-off. First-time-buyers make up just over half of the new home market and continue to benefit from government backed schemes such as the Help-to-Buy scheme which remains in place for 2023 and 2024.
A full breakdown of the key sectors contained in the Lisney Outlook 2023 report can be accessed here: https://lisney.com/outlook-2023/