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Published: 19/05/2026
Homes England supported the completion of more than 40,000 homes in the 2024/25 financial year, the agency announced at the UK Real Estate and Infrastructure Forum (UKREiiF) this week(1), with the government pointing to affordable housing and regeneration programmes as evidence its housing delivery reforms are beginning to gain traction.
Speaking in Leeds, Housing and Planning Minister Matthew Pennycook said Homes England had leveraged £22.6bn of private sector investment during the last financial year and was playing a ‘critical role’ in accelerating development and increasing housing supply.
The announcement comes as the government continues to pursue its target of delivering 1.5 million homes during the current Parliament, despite ongoing pressure across the wider housing market from higher financing costs, viability constraints and weaker buyer demand.
In his speech, Pennycook also acknowledged the ‘stronger headwinds’ facing the sector and the ‘more uncertain environment’ developers are operating in, alongside the impact of rising costs and weaker demand on cash reserves, supply chains and project pipelines.
Commenting on the figures, BCIS chief economist Dr David Crosthwaite said the tone of the speech reflected a growing recognition that planning reform alone would not be enough to restore delivery levels.
He said: ‘An increase in housing delivery will be welcomed by the industry, particularly at a time when market activity remains under pressure and the sector is working towards ambitious long-term housing targets.
‘The latest figures also reflect the important role Homes England-backed affordable housing and regeneration programmes are playing in sustaining delivery levels.’
In England, housing association completions reached 11,160 in 4Q2025, a historically high figure for the sector that accounted for almost 29% of all completions during the quarter. As housing associations are a major delivery partner for Homes England programmes, this strength in affordable housing output is likely contributing to the agency’s improved completion figures.
However, private enterprise completions still accounted for around three-quarters of all homes completed in England in 2024/25, according to the latest government data, underlining the continued importance of recovery in wider market housebuilding activity.
Private sector completions reached 29,700 homes in 4Q2025 but remain below levels seen during stronger market conditions. Total completions in England in 2024/25 were around 152,000 homes, below 2021/22 and 2022/23 levels, reflecting pressure from higher financing costs, planning delays, viability constraints and weaker buyer demand. Quarterly figures published so far also indicate 2025/26 completions are unlikely to exceed recent years.
Dr Crosthwaite added: ‘Pennycook’s speech also suggested a subtle shift in emphasis from reforming the planning system towards supporting delivery in more difficult market conditions. The increasing focus on stalled sites, delivery intervention and programme-backed housing reflects the reality that wider market recovery remains subdued.
‘The challenge for policymakers will be ensuring programme-backed delivery is matched by a sustained recovery in wider market housing output if long-term housing ambitions are to be met.’
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(1) GOV.UK – Housing and Planning Minister speech to UKREiiF 2026 – here
