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UK new home growth continues to soar in 2013

Latest figures from NHBC detailing new home volumes across the UK have revealed a 19% increase in the number of new homes registered in Q3 compared to the same period in 2012.

In total 33,573 new homes were registered between July and September, compared to 28,151 over the same period last year.

The private sector fuelled the growth in new homes in Q3 with a 23% increase, rising from 20,328 registrations in 2012 to almost 25,000. Meanwhile, the public sector experienced a 10% rise over the same period to 8,589 registrations from 7,823 in 2012.

NHBC is also releasing new figures which show that nearly a quarter of people buying new NHBC-registered homes in the UK are now aged 55 or over.

The statistics show the proportion of new homes sold to the over 55s has increased by a third from 17% to 23% over the last five years. In 2008, around 17 per cent of buyers of NHBC registered homes were aged over 55. But so far this year, the numbers have increased to 23 per cent.

Meanwhile, the proportion of younger people buying new homes has decreased, with the largest proportional drop in the under 25 bracket. This figure dropped by a quarter from over 8 per cent in 2008 to just under six per cent this year.

As the leading warranty and insurance provider for new homes in the UK, NHBC's monthly registration statistics provide significant insight on the country's new homes market. NHBC Commercial Director Richard Tamayo said: "Our latest figures show a sustained broad-based recovery in the UK new housing market from an extremely low base. There is little doubt that Government schemes, such as the Help to Buy initiative, have significantly contributed to the growth seen throughout the course of this year.

"Looking ahead we are hopeful of a steady increase in registrations for the public sector as the National Affordable Housing Programme continues and are confident that year-end figures for overall 2013 housing levels will be the highest since the economic downturn began."

Commenting on the increase in over 55s buying new homes, Mr Tamayo added: "There are interesting signs of a demographic shift in the types of people who are buying new build properties in the UK. Our figures show that the proportion of over 55s purchasing these properties has increased to nearly a quarter while the numbers of young people buying new homes has decreased slightly.

"New homes are a particularly attractive option for the older generation as they are cheaper to run, easier to maintain, safer and provide protection through an NHBC warranty."

NHBC Statistics Review Quarter 3 2013

 

 

NHBC UK statistics for July - September 2013 show that:

For the rolling quarter July - September 2013 the total number of registrations was 33,573, a 19% increase on the same period last year (28,151). Of these:

  • Private sector registrations in July - September increased by 23% (24,984), compared with the same period in 2012 (20,328).
  • Public sector registrations in July - September increased by 10% (8,589) when compared with the same period a year ago (7,823)

 

 

Full regional breakdown of total new homes registered July - September 2013 by region/country:

Region

July - September 2013

July - September 2012

England - Regions

 

 

North East

929

1,169

North West

3,053

2,348

Yorkshire & the Humber

1,917

1,310

West Midlands

2,551

2,131

East Midlands

2,914

2,009

Eastern

3,543

2,584

South West

3,471

3,443

Greater London

5,379

4,841

South East

5,829

4,848

Totals for England

29,586

24,683

Scotland - Councils

2,759

1,985

Wales - Unitary Authorities

818

1,090

Northern Ireland - Counties

410

393

Totals for UK including
Isle of Man

33,573

28,151

 

New house purchases of NHBC registered properties by age group

New house purchases of NHBC registered properties by age group based on responses to the NHBC National New Homes Survey (8 week) - weighted to take account of variations in sample size. 2013 figures are based on legal completions January - June inclusive; this figure will rise as the year progresses. Survey response rate is approximately 55%.

Year

Under 25

25 to 34

35 to 44

45 to 54

55 to 64

65 years or over

Age not given

Grand total

2008

8.30%

33.86%

24.58%

15.39%

7.93%

9.37%

0.56%

100%

2009

9.58%

36.49%

20.66%

13.19%

10.06%

9.35%

0.68%

100%

2010

8.56%

33.91%

23.00%

14.49%

9.62%

8.44%

1.99%

100%

2011

8.30%

33.23%

22.73%

15.22%

10.11%

9.67%

0.74%

100%

2012

7.11%

33.04%

22.60%

15.60%

10.03%

10.77%

0.84%

100%

2013

5.86%

32.13%

22.83%

15.29%

11.64%

11.24%

1.01%

100%

 

Year

Under 25

25 to 34

35 to 44

45 to 54

55 to 64

65 years or over

Age not given

Grand total

2008

4126

16837

12224

7652

3945

4659

280

49723

2009

3170

12078

6838

4365

3329

3096

227

33103

2010

3099

12274

8325

5243

3481

3055

721

36198

2011

3552

14225

9730

6517

4327

4140

317

42808

2012

2985

13863

9482

6543

4210

4519

352

41954

2013

1458

7996

5682

3805

2897

2797

251

24886

 

Media contact at NHBC

James Hall, 01908 746 738 or 07435 786851
Nadia Bedra, 01908 746 734 or 07501 226656

News Date: 25/10/13