The number of new builds coming to market is at its lowest level in almost a decade, it has been revealed.

Rightmove said the number of housing developments listed on its site is at the lowest level since 2017, excluding retirement schemes.

However, the property portal declined to reveal the exact raw figures numbers when contacted by The Neg, saying it simply wanted to highlight the trend.

It does, however, cast fresh doubts about the Government’s target to build 1.5million homes during the course of this Parliament.

Affordable homes

Colleen Babcock, Rightmove’s property expert, says home movers also need support.

She says: “Despite the historically high number of available homes for sale, there is still a long-term shortage of affordable homes in the right place.

“We need more homes to support people at every stage of the moving journey, from first-time buyers to downsizers.”

Autumn Budget

Rightmove is calling on the Government to act in the Autumn Budget to boost the number of new builds.

It wants to see the removal of Stamp Duty for first-time buyers across new builds and resale properties.

It also proposes greater investment in affordable housing and more targeted support to help first-time buyers onto the property ladder.

A new scheme to support first-time buyers… would help people achieve their dream of homeownership.”

Steve Mariner, Group Sales and Marketing Director of Barratt Redrow, says: “Increasing regulatory costs are holding new homes back, while low customer confidence, higher borrowing costs and wider economic uncertainty are all making it harder for first-time buyers to get onto the housing ladder.

“A new scheme to support first-time buyers, with developers contributing alongside Government, would help people achieve their dream of homeownership, get the market moving and see more homes built and more economic growth.

“For the first time in decades there is no Government support to help people in England buy their first home, right when it’s needed most.”

Nathan Emerson, Chief Executive of Propertymark, says: “Ensuring there is enough housing for a growing population is essential. While ambitious housing targets have been set across the UK, building new homes is only part of the challenge.

“Thriving communities also need investment in jobs, education, healthcare, transport and policing, alongside robust supply chains, a skilled workforce and a stable economy to keep housing accessible for both buyers and renters equally.”