New home stats – through the roof!
With the Government having pledged to build 300,000 new homes a year in England by 2025, there’s welcome news concerning the number of new homes registered in the third quarter of 2018.
Builders register homes expected to be built in the coming months that are to be covered by the National House Building Council (NHBC) ten-year warranty scheme; these registrations account for about 80% of new homes. NHBC figures show that 43,578 homes were registered between July and September 2018, 15% higher than in the same period in 2017, and the highest number in any quarter since 2007. Of these homes, 10,058 were affordable homes, a year-on-year increase of 12%.
Registrations were up in the rental sector too. Housing associations and overseas investors active in the London rental market helped increase year-onyear registrations in the capital by 141%.
Total new housing supply also continues to increase in Scotland, up 4% in 2017- 18 (19,428 new housing units). This represents the fifth consecutive increase in total housing supply, the highest annual figure since 2008-09.
Clearly, good progress is being made, although many in the construction industry are concerned about the likely effects of Brexit.