New house builds in UK at highest levels for over a decade

New house builds in UK at highest levels for over a decade

New figures from the National House Building Council (NHBC) have revealed that building of new homes in the UK is at its highest levels for over a decade. The NHBC is the UK’s main warranty and insurance provider and as such, requires builders to register houses with them before starting construction. According to their figures, the number of new houses registered between July and September 2018 stands at 43,578. This represents an increase of 15% year-on-year and is the highest figure since Q3 in 2007, just prior to the global financial crash.

Private sector new houses are up by 16% and in the affordable sector an increase of 12% has been recorded.

Geographically, London is top for new home growth, closely followed by Yorkshire and Humber which is up by 39%, the South West at 34% and Scotland up by 20%. Official figures reveal that the housebuilding sector delivered 217,000 new homes across England in the 2016-17 financial year.

Commenting on the findings, Steve Wood, CEO of NHBC, said: “The industry remains cautious in the short-run until the economic impact of Brexit becomes clearer. However, the upturn in registrations over recent months is good news for the industry and shows that there remains a strong demand for high-quality new homes in many parts of the UK.”