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Housebuilders retain hope in the face of cuts

23 Dec 10 An encouragingly consistent number of new home registrations during November signifies a return of hope among housebuilders at the end of 2010, according to the National House Building Council.

Registrations for September to November 2010 were up 7% on the same period last year (28,910, up from 27,124). Figures look set to end the year with an improvement of more than 30% from the previous year overall. 

Imtiaz Farookhi, chief executive of NHBC, said: “The year started very brightly in comparison to last year, but tailed off as potential housebuyers awaited the outcome of the government’s spending review in the autumn.  Now that the scope of the planned cuts is known, there seems to have been a slight bounce in consumer confidence which may allow the industry to build some momentum in the early part of 2011.  

“What the industry needs above all from government in the year ahead is clear and consistent policy and, in particular, positive measures to improve mortgage availability which is now clearly the major factor constraining volumes.”  

NHBC statistics for the rolling quarter September - November 2010 show that: 

Private sector registrations were up 7% (to 19,909) when compared with the same period last year (18,617)

Public sector registrations were 9,001 – 6 per cent higher than the same period a year ago (8,507)

Registrations in the combined private and public sectors were 7% up on the same period in 2009 (28,910, up from 27,124).  

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