Q1 Registration Statistics
As we progress well into 2014, it is clear that the UK house-building sector is continuing its very welcome revival following a number of challenging years.
As the leading warranty and insurance provider for new homes in the UK, NHBC’s registration statistics are a leading indicator of how the country’s new homes market is performing – and we can see that the upturn has continued over the start of the year.
In total, 33,816 new homes were registered in the UK during Q1 2014, compared to 31,739 for the corresponding period a year ago – an increase of 7%.
We can also establish that the recovery is broad-based across virtually the whole country, with many regions reporting significant growth on last year.
London, however, continues to drive housing growth in the UK with a 6% increase in new housing registrations in Q1 2014 (7,896) – compared to the same period last year.
The increase follows a record year last year which saw new housing registrations in 2013 hit their highest levels since electronic records began 26 years ago. In total 26,230 new homes were registered in the capital last year, a 60% increase on 2012 figures (16,364).
In summary, our most recent figures indicate that 2014 is promising to be another strong year for the UK house building industry. However we must be aware of the new challenges that builders may face as production ramps up, as the industry strives to meet the growing demand for new homes that the country clearly needs.