New home registrations jump by a fifth

In total 33,573 new homes were registered between July and September, compared to 28,151 over the same period last year.

 The private sector fuelled the growth with a 23% increase, rising from 20,328 registrations in 2012 to almost 25,000. However, the public sector also saw a 10% rise over the same period to 8,589 registrations from 7,823 in 2012.

The NHBC data also reveal a rising age profile of who is buying these newly-built homes.

The proportion of new homes sold to the over-55s has increased from 17% to 23% over the past five years, while the proportion sold to under-25s has dropped from 8% in 2008 to less than 6% this year.

As the leading warranty and insurance provider for new homes in the UK, NHBC’s monthly registration statistics provide insight on the country’s new homes market. NHBC commercial director Richard Tamayo said: “Our latest figures show a sustained broad-based recovery in the UK new housing market from an extremely low base. There is little doubt that government schemes, such as the Help to Buy initiative, have significantly contributed to the growth seen throughout the course of this year.

 “Looking ahead we are hopeful of a steady increase in registrations for the public sector as the National Affordable Housing Programme continues and are confident that year-end figures for overall 2013 housing levels will be the highest since the economic downturn began.”

On the shift towards older people favouring new-builds, Mr Tamayo said: “New homes are a particularly attractive option for the older generation as they are cheaper to run, easier to maintain, safer and provide protection through an NHBC warranty.”

Full regional breakdown of total new homes registered July –September 2013 by region/country:

Got a story? Email news@theconstructionindex.co.uk