Quarter 4, 2018 Report
The number of units approved during the fourth quarter rose 1% against the previous three months but 10% lower than a year ago. The year-on-year decline was driven by a 5% drop in the number of private housing units approved and a 19% fall in units on social housing projects.
Overall the number of residential units approved last year was 1% down on the record high level seen during the same period of 2017.
Glenigan recorded the approval of 100,518 residential units during the fourth quarter of 2018. At 88,769 units, housing schemes of ten or more units accounted for 88% of approved units; the remainder being on smaller new build projects including self-build schemes, homes included within non-residential projects, and the conversion of non-residential properties.
At 2,835, the number of private sector housing projects (schemes of 3 or more units) securing approval during the fourth quarter was unchanged on July to September 2018 but 8% lower than during the corresponding period of last year.
Over 88,989 units were granted planning permission on private sector projects during the fourth quarter.
This was a 3% decline in the number of units against the preceding quarter, but 5% fewer than a year earlier. At 150, the number of social housing projects (of three or more units) was down 11% on the previous quarter and 29% lower than a year ago. At 9,980, there was a sharp 51% rise in the number of social housing units approved against the preceding quarter but unit approvals were 19% lower than a year ago.
There was marked variation across different parts of the country in approval levels during the fourth quarter compared to the same quarter of 2017. The sharpest falls were in Wales and Scotland where the number of units approved were 49% and 48% respectively.
Unit approvals were also sharply lower in London, South West, North West and Yorkshire & the Humber with declines of 12%, 10%, 20% and 24% respectively against a year earlier. In contrast unit approvals in the North East and South East were up 7% and 11% respectively against a year earlier.
Overall unit approvals in Great Britain during 2018 were 1% down on a year earlier. The slight decline follows six consecutive years of growth including a sharp 29% increase in 2017. The small drop during the 2018 was led by double digit declines in the North East, North West the East of England and Wales which overshadowed growth in the Midlands, South East and South West.