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News » UK » Number of new homes hits 10-year high » published 28 Apr 2017

Number of new homes hits 10-year high

New home registrations in the UK have reached a 10-year high.

The National House Building Council (NHBC) registered 42,470 new homes in the first quarter of this year – an increase of 17% on the 36,351 registered 12 months ago, resulting in the highest quarter in 10 years.

In total, 31,197 homes were registered in the private sector, an increase of 10% on the same period a year ago, with 11,273 new homes registered in the affordable sector, representing a 40% increase on 2016 numbers.

New home statistics for the financial year also reveal a 4% increase for 2016/17 with a total of 157,898 new homes registered compared to 151,599 in 2015/16. In addition, new home completions for the financial year increased by 5% to 145,282, up from 137,826 in 2015/16.

For the first time in seven years all 12 regions across the UK experienced growth in registrations, when compared to the same period 12 months ago. The North East (+39%), London (+38%) and Eastern (+31%) were among the regions with the most notable growth.

NHBC managing director Neil Jefferson said: “These figures, with growth across the entire country, are clearly encouraging for the sector, at a time when there is considerable demand for new, high-quality homes. This growth in registrations, in both the private and affordable sector, is welcome news and will result in more newly built homes across the UK over the coming months.”

 

MPU

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This article was published on 28 Apr 2017 (last updated on 28 Apr 2017).

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