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Next Time Buyer & First Time Buyer

Highest Q3 new home registrations in a decade

by: Owain Thomas – Mortgage Solutions

Builders registered nearly 38,000 new homes in the UK during the third quarter of 2017 – up 6% on the same period last year and the highest Q3 total since the recession of 2007-08

According to NHBC’s latest new home registration statistics, between July – September 37,936 new homes were registered, up from 35,946 registered last year.

The private sector saw a 9% increase for the quarter (29,083 compared to 26,611 in 2016), although the affordable sector was down 5% to 8,853 new homes registered from 9,335 in 2016.

Ups and downs

Seven out of the 12 UK regions experienced growth in registrations, when compared to the same period last year. Scotland (3,056 +50%), East Midlands (3,575 +42%) and the North East (2,078 +34%) were among the regions with most notable growth.

Greater London saw the largest fall at 35%, from 3,860 to 2,494.

As NHBC is the biggest warranty provider for new homes in the country, holding around 80% of the market, its registration statistics are a good indicator of the UK’s new homes market.

NHBC chief executive Steve Wood said: “We have seen encouraging growth in terms of the number of new homes being registered over the last three months, across many parts of the country.

“With demand for high quality new homes as strong as ever, this is positive news for the industry and prospective homebuyers, particularly in light of the current political and economic uncertainties.”