Scottish Housing Market Review Q2 2024

10. Housing Supply

10.1. New Build

There has been a downward trend in the all-sector new-build completions in Scotland since Q2 2023. Recent data shows that all-sector new-build completions for the financial year 2023/24 totalled 19,632, 4,150 (‑17%) less than in 2022/23. Over the same period, all-sector new build starts fell by 3,000 (-15%) to 16,404.

The slowdown in housebuilding activity is illustrated in Chart 10.1, which includes a breakdown of new-build completions by sector. In 2023/24 the private sector completed 14,589 homes, 2,270 (-13%) less than the year before. Completions in the social sector also fell sharply over this period, from 6,919 to 5,043 (-27%).

Source: Scottish Government

10.2. Affordable Housing Supply Programme (AHSP)

Chart 10.2 similarly shows that, following a substantial increase after covid restrictions were released, the number of affordable homes delivered has been falling in recent quarters: the 9,514 affordable housing completions recorded over 2023/24 represented a decline of 9.1% (952 homes) compared to 2022/23. Whilst starts have also decreased over the same period, (by 3.4% to 6,755 homes), approvals have risen by 9.1% (585 homes) to 6,981.

Source: Scottish Government