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First 2011 new home figures show promise

Housebuilders have indicated their hope for 2011 with an increase in year-on-year new home registrations for January, according to NHBC.

The overall five per cent increase in registrations across all sectors, from 7,400 in January 2010 to 7,788 in January 2011, consists of a marked improvement in private sector registrations (18% increase on 2010) but a notable contraction in public sector registrations (16% decrease on 2010).

Imtiaz Farookhi, chief executive of NHBC, said: "2011 has got off to a promising start despite the uncertainty that is affecting much of the economy.  However, it is important to bear in mind that home registrations for 2010 overall were lower than we might have hoped and completions were low as well.  Yet, this month's figures do offer some consolation that, despite the raft of conflicting economic data that appeared in January, housebuilders' attitude to new development was robust and they remain committed to recovery.

"At this stage in the year it is extremely hard to assess the future performance of the housebuilding sector but it is telling that registrations increased even while we await important decisions on planning, public sector cuts and interest rates that will have profound effects on the market. It will be extremely interesting to observe the impact on housebuilder sentiment in the coming months now that more details on the New Homes Bonus have been published."
 
NHBC statistics for the rolling quarter November 2010 - January 2011 show that:

  • Private sector registrations were up 3% (to 17,188) when compared with the same period a year ago (16,684) 
  • Public sector registrations were also up 3%, from 7,631 a year ago to 7,834 this quarter
  • Registrations in the combined private and public sectors were 3% higher than the same period a year ago (25,022, up from 24,315)

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

Note to editors:

Full regional breakdown of new homes registered November 2010 to January 2011 by region / country:

Region

November 2010 to January 2011

November 2009 to January 2010

England - Regions

 

 

North East

828

626

North West

1,439

1,896

Yorkshire & the Humber

1,134

1,304

West Midlands

2,063

1,901

East Midlands

1,780

2,019

Eastern

3,838

3,215

South West

2,244

2,868

Greater London

4,649

2,514

South East

4,274

4,416

Totals for England

22,249

20,759

Scotland - Councils

1,712

1,835

Wales - Unitary Authorities

574

963

Northern Ireland - Counties

486

746

Isle of Man

1

12

Totals for UK

25,022

24,315

 

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 1.6 million homes.

Media contact at NHBC:

Nadia Bedra or Tom Howard
nbedra@nhbc.co.uk, 01908 746 734
thoward@nhbc.co.uk, 01908 746 735

News Date: 28/02/11