New Homes: Sector Experiences 6% Rise in Registrations

New Homes: Sector Experiences 6% Rise in Registrations

Recent reports have detailed the number of new homes that were registered to be built in the UK last year, showing a rise of 6% in 2017 when compared to 2016.

According to the latest statistics from the National House Building Council (NHBC), just over 160,000 were registered during last year, which is the highest number we have seen since 2007 when the figure stood at 198,929 registrations for the year.

75% of the UK saw an increase in registrations across the course of 2017. The region of the East Midlands was top of the table for new registrations, recording 14,481 registrations, a 19% increase in comparison to 2016.

Not very far behind at all was the region of Wales, which also saw a 19% increase in registrations, however, the number of new homes totalled at 5,470. The North West took 3rd place with a substantial rise of registrations by 12% with 16,947 new homes.

The capital has seen its first increase year on year since 2014, with a small increase from the 17,587 seen in 2016, to the 17,850 units recorded in 2017.

There was also growth seen within the private sector, with 118,825 new homes registered, a jump of 3% year on year and the affordable sector saw its highest annual total since the NHBC electronic records began 30 years ago, boasting 41,781 new homes and 14% rise on the previous year.

Chief Executive of the NHBC, Steve Wood, spoke on the statistics found within their report, stating, “Our figures show the market has delivered strong growth resulting in the highest new home figures for a decade and growth across the majority of the UK, including London for the first time since 2014.

Looking ahead, NHBC will continue to work with the industry to help raise the standards of new homes. With 6% growth in the quantity of new home registrations, the focus on delivering quality for consumers remains critical.”