New figures show highest number of new home registrations in 12 years

Builders and developers in the UK had the highest number of new home registrations for 12 years during the second quarter of 2019, new figures show.

Some 43,000 new homes were registered over the three-month period, according to the latest figures from NHBC, the warranty and insurance provider for new homes in the UK whose registration statistics are regarded as a lead indicator for the new homes market.

The NHBC report suggests that inward investment in the rental sector has been driving much of the growth.

In total 43,438 new homes were registered between April and June 2019, up 12% on the same period last year when it was 38,937 and the highest since the fourth quarter of 2007 when 43,525 were registered.

‘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,’ said NHBC chief executive Steve Wood.

A breakdown of the figures shows that an upturn in London continues with 6,000 registrations over the quarter, more than double what was registered a year ago. Overall eight out 12 regions recorded an annual increase. Numbers were up 47% in the North West and up 17% in Scotland.

Overall, the private sector increased by 14% at 29,993 compared to 26,422 in 2018, and the affordable and rental sector rose by 7% to 13,445 compared to 12,515 in 2018.

Kindly shared by Property Wire