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London leads the way in new homes upturn

30 Aug 18 New figures from the National House-Building Council (NHBC) show that more than 15,800 new homes were registered to be built in the UK in July 2018, a 35% increase on the same month of 2017.

In July 2018 there were 12,087 NHBC registrations for new homes in the private sector (compared to 8,421 in 2017), with 3,782 registered in the affordable sector (3,362 in 2018).

For the rolling quarter between May and July 2018, 43,600 new homes were registered compared to 39,421 in 2017 – an increase of 11%.  During this period there were 31,264 new homes registered in the private sector (28,056 in 2017: +11%) and 12,336 new homes registered in the affordable sector (11,365 in 2017: +9%).

During the quarter, London experienced an 86% increase in registrations, partly due to an increase in the number of large housing association and private rental sector developments registered in the capital.

As the leading warranty and insurance provider for new homes in the UK, NHBC's registration statistics are a lead indicator for the new homes market.

NHBC chief executive Steve Wood said: “Following a slow start to the year due to the extreme weather, we have had promising new home figures in recent months with July seeing a real uplift.  Over the last three months we have had growth in new home registrations in eight out of 12 UK regions, with London leading the way.”

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