New build completions down 68%

The number of new homes starts in August was just 6,066 - a 68% fall on the the same month last year, according to preliminary figures from the NHBC.

The huge drop marks the extent to which the housebuilding industry has battened down the hatches amid a much tougher residential market.

Meanwhile housing completions were also down, by around 21%. Completions in August this year stood at 10,912 compared to 13,798 in the previous year.

Around 5,000 jobs have been lost in the housebuilding sector since the downturn started.