NHBC Reports More New Homes Registered
It was always going to be difficult for 2014 to live up to the high standards of last year where new home registrations are concerned, but so far we are seeing volumes edge marginally ahead of 2013 levels.
For the calendar year to date (up to and including June) registrations are approximately 5% higher than the comparative period last year, with 70,673 new homes registered in all sectors (public and private) compared to 67,422 in the first six months of 2013.
The private sector remains the main engine for growth, with a drop in overall public sector numbers. As expected, this is partly due to the first phase of the Government’s Affordable Housing Programme coming to an end. We anticipate that the public sector will pick up again as funding is fully allocated for the next phase from 2015 to 2018.
As the leading warranty and insurance provider for new homes in the UK, NHBC’s registration statistics help to provide new and accurate data on the country’s new homes market.
Our most recent quarterly results (for Q2) show that across the UK the South East experienced a 48% increase compared to the same period last year (6,434 Q2 2014; 4,355 Q2 2013) with the East Midlands also considerably up 38% for the quarter (3,708 Q2 2014; 2,693 Q2 2013).
Overall, it is obviously encouraging to see that house building levels have continued to grow in 2014 – following the substantial increase in volumes recorded last year; we hope to see this growth further consolidated throughout the rest of the year.
However, we have been clear that the UK still has an undersupply of new homes so we must continue to work hard to meet the growing housing needs of the population.