What assessment has the Cabinet Secretary made of statistics released by the National House Building Council that show the number of new build homes being built in Wales decreased by 43 per cent in the first quarter of 2024, compared with the fourth quarter of 2023?
New build starts and completions are influenced by quarterly fluctuations and seasonal factors. The latest Official Statistics published by the Welsh Government published in March reported that the number of new dwellings started between October and December 2023, were almost double the number started in the same quarter of the previous year.
The National House Building Council reported reduced new home registrations across the majority of UK regions citing continued economic challenges, skills shortages along with wet weather in the first quarter of 2024 compared with the first quarter of 2023. We have been clear that the economic challenges with higher borrowing rates and workforce challenges following UK’s exit from the European Union are creating significant headwinds right across our housing sector.