Housebuilding completions plummet by 17% in 2023-24.

Housebuilding completions in Scotland dropped by 17% in the financial year 2023-24, with 19,632 homes built and 16,404 new builds started. These figures, recently released by Scotland’s chief statistician, show a significant decrease compared to the previous year.

The private sector completed 14,589 homes and started 12,904 new builds, reflecting a decline of 13% in completions and 16% in starts from the previous financial year. Similarly, the social sector built 5,043 homes and started 3,500 homes, experiencing a drop of 27% in completions and 14% in starts.

Overall, there were approvals for 6,981 affordable homes, with 6,755 starts and 9,514 completions in 2023-24. While there was an increase in approvals, there were decreases in starts and completions when compared to the previous year.

These statistics play a crucial role in tracking progress towards the Scottish Government’s goal of delivering 110,000 affordable homes by 2032, with a focus on social rent and rural communities. Currently, 21,092 affordable homes have been completed, comprising of homes for social rent, affordable rent, and affordable home ownership.

Housing minister Paul McLennan emphasised the government’s commitment to addressing the housing crisis, highlighting investments in the Affordable Housing Supply programme. Despite facing budget cuts, McLennan remains dedicated to achieving the ambitious target of 110,000 affordable homes by 2032.