Cautious optimism from UK house builders with 40% increase in new home registrations

Latest News Thu, Nov 14, 2024 7:14 AM

Figures released by the National House Building Council (NHBC), the UK’s largest provider of new home warranties and insurance, show 28,724 new homes were registered to be built in Q3 2024, up 40% on Q3 2023 (20,449) and running level with Q2 2024 (29,093).

Steve Wood, CEO at NHBC comments: “Our latest quarter’s figures show that new home registrations are holding steady with some signs of increased activity on site and an emerging mood of cautious optimism amongst house builders.

“A further uplift in registrations is needed to move us towards the Government’s 1.5m new homes target, with this dependent on continued easing of interest rates and a rise in confidence amongst consumers and investors. The funding pledged by Chancellor Rachel Reeves in her first Autumn Budget was welcomed and should, over time, have a positive impact on housing supply.”

Across the UK, 10 out of 12 regions saw a rise in registrations in Q3 2024 compared to Q3 2023, with the biggest increases in the South East (+84%), North West and Merseyside (+81%) and the North East (+78%). Registrations were down in London (-50%) and Northern Ireland (-29%).

There were 19,879 private sector registrations in Q3 2024, up a substantial 58% on Q3 2023 (12,583). The rental and affordable sector saw more modest increases, with 8,845 registrations in Q3 2024, up 12% on Q3 2023 (7,866).

Steve Wood, CEO at NHBC explains: “Private sector registrations experienced something of an uplift in Q3, up 58% compared to the previous year. Rental and affordable registrations were also up, by 12%, but this belies challenging conditions for housing associations where capital budgets are focused on the remediation and retrofit of existing stock, alongside high spends on temporary housing.

“With house builders cautiously optimistic about growth prospects, we anticipate an upward trajectory for new home registrations in 2025, but with the health warning that the stubborn barriers in the planning system and around skills shortages must be tackled.”

Featured News

Specification news
ARB research reveals staggering levels of...

The Architects Registration Board (ARB) has published new research on the workplace...

Read More >>

Specification news
STA release a guide to commercial viability for...

The Structural Timber Association have released their ‘Guide to Commercial...

Read More >>

BUILDING PRODUCT LIBRARY - LATEST BROCHURES

Novantica - Cement Free Restoration  Brochure

Novantica - Cement F...
By Fassa Bortolo

Download Now >>

Fassatherm System - Product Catalogue  Brochure

Fassatherm System -...
By Fassa Bortolo

Download Now >>

Fassarend System - Product Catalogue  Brochure

Fassarend System - P...
By Fassa Bortolo

Download Now >>

Fassalime System - Product Catalogue  Brochure

Fassalime System - P...
By Fassa Bortolo

Download Now >>

BUILDING PRODUCT DIRECTORY - LATEST PRODUCTS

Straightcurve®
Straightcurve®

Straightcurve® – headquartered in Australia, is renowned for high-end innovative garden edging,...

Read More >>

RLG600 Access Flooring System
RLG600 Access Flooring System

The Kingspan RLG600 raised access floor panel is intended for light office use and is capable of...

Read More >>

RHG600 Simploc
RHG600 Simploc

Kingspan RHG600 Simploc is the heavy grade floor system, capable of handling up to a 12kN/m2...

Read More >>

CONSTRUCTION VIDEOS - LATEST VIDEOS

Discover the first-ever reference book for stone wool insulated sandwich panels
Discover the first-ever reference book for stone wool insulated sandwich panels

“Building with stone wool insulated sandwich panels” written by Professor Imperadori, is now...

Watch Now >>

Portakabin | Installation at the iconic Admiralty Arch, London
Portakabin | Installation at the iconic Admiralty Arch, London

Portakabin | Installation at the iconic Admiralty Arch, London

Watch Now >>