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New Homes Industry Still Waiting for Autumnal Sales

The new homes industry is still waiting for Autumn's traditional uplift to get home building quotas back on track, according to our latest figures.

The number of new homes registered with NHBC dropped slightly during the last month, from 9,954 in August to 9,033 in September.

Figures from NHBC also showed that 29,625 new homes were registered during rolling quarter July - September 2010.

Imtiaz Farookhi, chief executive of NHBC, said: "Despite a strong performance in Spring of this year, registration levels during the Summer flattened out and there hasn't been the traditional Autumn uplift that perhaps many in the industry were hoping for.  
 
"Confidence seemed to leave the market around the time of the election and has not returned.  A further contributory factor has been the strictures surrounding mortgage finance, and these constraints have only increased in light of the review from the FSA.
 
"September's registration figures have dropped off a little but are certainly an improvement on last year.  However, the Autumn selling season, which is traditionally strong, has yet to take hold due no doubt to a 'wait and see' policy from consumers who were concerned about the outcome of the Spending Review."

"The Spending Review has brought a reduction in funding for social housing and will, undoubtedly, have a knock-on effect for the sector as a whole and presents a significant threat to the fragile recovery we have experienced thus far."

NHBC statistics for the rolling quarter July - September 2010 show that:

  • Private sector registrations were up 32 per cent (at 20,594) when compared with the same period last year (15,577)
  • Public sector registrations were 9,031 - 6 per cent higher than the same period a year ago (8,559)
  • Registrations in the combined private and public sectors were 23 per cent up on the same period in 2009 (29,625 compared with 24,136)

NHBC publishes a quarterly booklet of its new house-building statistics - subscribe here

Ends

Note to editors:

Full regional breakdown of new homes registered July 2010 to September 2010 by region / country:

Region

July 2010 to September 2010

July 2010 to September 2010

England - Regions

 

 

North East

1,143

858

North West

2,276

1,591

Yorkshire & the Humber

1,561

1,204

West Midlands

1,858

1,341

East Midlands

2,323

1,885

Eastern

2,710

3,379

South West

3,845

2,820

Greater London

4,348

3,689

South East

5,501

3,912

Totals for England

25,565

20,679

Scotland - Councils

2,010

1,668

Wales - Unitary Authorities

1,215

745

Northern Ireland - Counties

832

950

Isle of Man

3

94

Totals for UK

29,625

24,136

About NHBC

NHBC is the leading warranty and insurance provider for new homes in the UK. It was established 74 years ago as a non-profit distributing company. NHBC's primary purpose is to help raise standards to protect homeowners. NHBC's ten-year 'Buildmark' warranty covers approximately 80% of new homes built in the UK and currently protects around 1.7 million homes.

Media contact at MHP:
Kate Jones or Emily Feltham
kate.jones@mhpc.com, 020 3128 8130
emily.feltham@mhpc.com, 020 3128 8122

News Date: 22/10/10