Highest new home registrations in 11 years, reports NHBC2 November 2018
UK builders registered more than 43,500 new homes during the third quarter of 2018, according to NHBC’s latest new home registration statistics making it the highest quarter since 2007.
Some 43,578 new homes were registered during the period July September, an increase of 15% on the 37,940 registered in the same period 12 months ago. The total makes it the highest quarter since the third quarter of 2007 when 49,520 new homes were registered.
In the private sector 33,520 new homes were registered (28,921 in Q3 2017; +16%), with 10,058 registered in the affordable sector (9,019 in Q3 2017; +12%).
London has seen a dramatic increase in registrations, up 141% to 6,007, compared to the lower than usual figure of 2,492 in the same period last year.
This is partly due to a number of large developments being registered by housing associations and by inwards investors focused on the private rental sector.
Other regions experiencing considerable growth compared to 2017 include Yorkshire & Humberside (+39%), the South West (+34%) and Scotland (+20%).
“The upturn in registrations over recent months is good news for the industry and shows that there remains a strong demand for high quality new homes in many parts of the UK,” said NHBC chief executive Steve Wood.
“On a broader front, the industry remains cautious in the short-run until the economic impact of Brexit is clearer.”