NHBC reports rise in UK new home registrations
The NHBC has reported an increase in new home registrations for 2017, with more than 160,000 new homes registered to be built in the UK last year. The figures show an increase of 6% on 2016, according to NHBC’s latest new home statistics.
Throughout the year, some 160,606 homes were registered, up by some 8,500 homes in 2016, and the highest since the pre-recession levels of a decade ago.
The private sector showed the highest number of properties registered, at 3% (118,825 new homes) higher than 2017. The affordable sector has shown the sharpest increase, with 41,781 homes pushing the figures up 14% on 2017. This is also the highest yearly total for the sector since NHBC electronic records began 30 years ago.
Actual completion rates are also improving, increasing by 4% from 141,685 in 2016 to 147,278 last year.
Across the UK, nine out of 12 UK regions experienced an increase in registrations, with the East Midlands (+19% ;14,481), Wales (+19%; 5,470) and North West (+12%; 16,947) among the areas which saw noticeable growth.
2017 also showed the first increase in the capital since 2014, with a slight increase on 2016, with 17,850 units compared to 17,587.
Commenting on the statistics, NHBC Chief Executive Steve Wood said: “Our figures show the market has delivered strong growth resulting in the highest new home figures for a decade and growth across the majority of the UK, including London for the first time since 2014.
“Looking ahead, NHBC will continue to work with the industry to help raise the standards of new homes. With 6% growth in the quantity of new home registrations, the focus on delivering quality for consumers remains critical.”
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