Raising standards to protect homeowners
Q2 2006 new house-building statistics UK 28/07/06
In Great Britain the average anticipated selling price of new homes started during quarter two of 2006, increased by six per cent on the same period in 2005. First time buyers found their ability to buy rose in the first quarter. NHBC, the leading new home warranty and insurance provider for new homes in the UK, has published these figures in its `New House-Building Statistics' booklet for quarter two, 2006.
The average anticipated selling price of new homes in Great Britain (started by NHBC registered builders) was £190,000 during quarter two of 2006, a six per cent increase on quarter two of 2005 (£180,000). Based on actual selling prices, the proportion of new homes priced at over £150,000 went up to 72 per cent, a slight increase on the same period in 2005 (69 per cent). NHBC's first time buyers' ability to buy index increased by four points during the quarter to 69 (the figure for quarter one 2006 was 65). The index is based on a formula which takes into account the average cost of homes bought by first time buyers, average income and mortgage interest rates (from the Nationwide Building Society). The higher the index, the greater the ability to buy. UK-wide figures (including the Isle of Man) show a total of 49,482 applications to start new homes during the second quarter of 2006, showing a four per cent increase on the same period in 2005 (47,369). Of that total, 42,535 relate to private sector activity (i.e. excluding housing associations), showing an eight per cent increase on the same quarter of 2005 (39,447). Housing association starts totalled 6,947, a decrease of 12 per cent on quarter two of 2005 (7,922). Imtiaz Farookhi, NHBC Chief Executive, says: "NHBC's quarterly statistics show that the number of applications to build new homes increased during the past three months when compared to the same period last year. Furthermore, our figures reveal that 101,622 new homes were registered with NHBC during the first six months of this year, showing an eight per cent increase on the first half of 2005. " NHBC UK figures (including the Isle of Man) show there were 49,329 new build completions during the second quarter of 2006, showing a three per cent increase on the same quarter last year (48,004). The average number of daily sales of new homes in the UK for quarter two 2006 was 668, an increase of 23 per cent on the same period in 2005 (544). ends Note to editors: