New home registration reaches 12-year high

Builders and developers registered the highest number of new homes for 12 years in the last three months, with more than 43,000 recorded in the UK, according to the National House Building Council (NHBC).

Between April and June 2019, 43,438 new homes were registered, 12 per cent more than during the same period last year – 38,937 – and the highest figure since Q4 2007 when 43,525 were registered.

The NHBC noted that the increase demonstrated inward investment in the rental sector, which is driving much of the growth, with 13,445 registered in the affordable and rental sector, compared to 12,515 in the previous year – revealing a 7 per cent increase.

Furthermore, 29,993 of those registered were in the private sector, more than 3,000 (14 per cent) more than in Q2 2018, which reported 26,422.

Commenting on the data, NHBC chief executive Steve Wood said: “It is great to see this sign of confidence in new-build housing and that the positive start to the year has continued into the summer.

“The combination of the growing private rental sector and on-going investment into the UK market is helping to boost new home registrations.”

According to the council, the “upturn in London continues” with 6,000 registrations in the latest quarter – more than double what was registered a year ago. Positive growth was also reported in the North West (47 per cent) and Scotland (17 per cent), with eight of the 12 UK regions reporting an increase on 2018’s numbers.

Spicerhaart Part Exchange & Assisted Move business development director Neil Knight added: “The new homes market is much more buoyant. At Spicerhaart Part Exchange and Assisted Move, we are busier than ever, working with developers across the UK to offering part-exchange and assisted move services.

“We are being led to believe that the house building industry as almost ground to a halt, but that is simply not true.

“The demand is there and the activity is too and it is great to see such confidence in new-build housing despite uncertain economic and political times. Let's hope it filters through to the rest of the market.”

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