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New-build home registrations at 11-year high, says industry body

The number of new-build homes being registered jumped to an 11-year high in the third quarter of 2018, according to an industry body.

Some 43,578 new homes were registered across the UK between July and September – the highest total since the third quarter of 2007, according to the National House Building Council (NHBC).

The NHBC’s registration figures are taken from builders who are responsible for around 80% of homes constructed in the UK.

Builders are required to register a house with the NHBC, a warranty and insurance provider, before starting work, which means its figures represent homes to be built in the months ahead.

The number of homes being registered was also 15% higher than in the third quarter of 2017.

Rising new home registrations in the private and the affordable sector have helped push the figures up, the NHBC said.

London has seen a dramatic increase in registrations, up 141% to 6,007, compared with a lower-than-usual figure of 2,492 in the same period last year, its report said.

This is partly due to a number of large developments being registered by housing associations and by investors focused on the private rental sector, according to the NHBC.

It said Scotland, Yorkshire and Humberside and the South West of England are also seeing considerable growth in new-build registrations compared with 2017.

This week’s Budget saw further help for first-time buyers amid a package of measures aimed at boosting the housing 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 a 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.”

Here are the numbers of new-build homes registered across the UK between July and September, and the change compared with the third quarter of 2017 according to the NHBC:

– North East, 2,172, 5%
– North West, 4,280, minus 7%
– Yorkshire and Humberside, 2,917, 39%
– West Midlands, 3,138, minus 11%
– East Midlands, 3,080, minus 14%
– Eastern England, 3,814, minus 4%
– South West England, 4,604, 34%
– London, 6,007, 141%
– South East, 7,128, 7%
– Scotland, 3,681, 20%
– Wales, 1,476, minus 10%
– Northern Ireland and Isle of Man, 1,281, 71%

Source: Yahoo Finance UK