News and Events

VertDivider

50% Drop in New Home Starts

NHBC, the leading warranty provider and standard setting body for new homes in the UK, received just 5,727 applications to start new homes from builders in November, leading them to predict that the total number of new homes started in the UK this year will be approximately 103,000 - just over half the number of new homes started in the calendar year 2007 (200,697).

NHBC's Chief Executive, Imtiaz Farookhi, said: "The industry is unquestionably facing another tough and challenging year ahead. Based on current build rates and builder feedback, we anticipate a total of 85,000 new home starts for the financial year 2008/09, with similar provisional volumes anticipated for the following year, before seeing an increase in new house building activity in 2010 and onwards."

NHBC statistics for the three months to the end of November also revealed:  

  • There were 18,675 applications to start new homes from the combined private and public sectors in the UK during the three-month period from September to November - 62% lower than the same three-month period a year ago (48,761). 
  • Of the above total, 10,718 related to private sector activity (i.e. excluding housing associations) - 73% lower than the same three month period a years ago (40,037).
  • Housing association figures for the three months to the end of November totalled 7,957 - 9% lower than the same period a year ago (8,724)
  • New build completions totalled 34,595 in the three months to the end of November - 31% lower than the same period a year ago (49,825).
  • The average number of daily sales of new homes in the UK from September to November  was 378 - 22% lower on the same period a year ago (485).

NHBC publishes a quarterly booklet of its new house-building statistics to subscribe visit www.nhbc.co.uk/stats

Ends

Note to editors:

For a breakdown of new homes registered by region/country for the three month period e-mail mblamey@nhbc.co.uk

NHBC is the leading warranty and insurance provider for new homes in the UK. It was established more than 70 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 more than 80% of new homes built in the UK and currently protects approximately 1.7 million homes.

 


 


 


 

 

 


News Date: 23/12/08