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Slow public sector drags January new home registrations

27 Feb 15 Latest figures show a 2% fall in new home registrations in January, although the rolling quarter saw continuing strong growth.

The National House-building Council (NHBC) says that 11,390 new homes were registered with it during January 2015. This is down 2% on the 11,645 registered in January 2014.

The fall was down to a steep drop in public sector building work. New home registrations in the public sector were down 22% in January 2015 to 2,541 compared to 3,237 in January 2014. The private sector showed a 5% increase, reaching 8,849 compared to 8,408 in January 2014.

Overall totals for the rolling quarter November 2014 to January 2015 show that 35,836 new homes were registered in the UK, which is an increase of 13% on the 31,852 registered with the NHBC in the corresponding quarter the previous year. The private sector increased 23% to 27,881 (compared to 22,612 for November 2013 to January 2014), with the public sector down 14% to 7,955 (compared to 9,240 before).

NHBC chief executive Mike Quinton said: “The rolling quarter shows that the overall new home volumes are ahead of 12 months ago, with the private sector quite clearly the main driver of growth. Even though January was slightly down we must remember this is after the extremely strong figures for December.

“We anticipate an important couple of months in the run-up to the general election with housing likely to be at the forefront of political debate in an effort to increase overall levels of new homes that the country urgently requires.”

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