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.
A total of 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%).
As the leading
warranty and insurance provider for new homes in the UK, NHBC's registration
statistics are a lead indicator of the UK’s new homes market.
NHBC Chief Executive
Steve Wood said: “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.
"The increase
in London is welcome, although it has been boosted by number of large scale
developments and has to be set against unusually low figures this time last
year.
"On a broader
front, the industry remains cautious in the short-run until the economic impact
of Brexit is clearer. Attaining the Government’s target of 300,000 new homes by
the middle of the next decade will require a real focus on innovation, particularly
the use of modern methods of construction, and on building skills and capacity
in the workforce onsite, topics many builders are actively grappling
with."
NHBC UK statistics
for Q3 2018 show that:
- During July’18 - Sept‘18 the
number of NHBC new home registrations was 43,578 compared to 37,940 a year
ago.
- 33,520 were registered in the
private sector, compared to 28,921 in the previous year.
- 10,058 were registered in the
affordable sector, compared to 9,019 in the previous year.
