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NHBC reports growth of homes for the elderly

More retirement homes were registered to be built in the UK in the first six months of this year than the whole of the previous year, according to new figures released by NHBC.

Builders registered a total of 2,337 properties specifically designed for the elderly in the first six months of 2015 - outstripping the total 1,919 which were registered for the whole of 2014.

The growth in retirement homes comes as NHBC reported that more than 41,000 new homes were registered in the UK during the last three months - an increase of 12% on the same period last year.

In total, 41,268 new homes (30,462 private sector; 10,806 public sector) were registered, compared to 36,986 (27,388 private sector; 9,598 public sector) registered during Q2 last year.

The figures show that northern regions are helping to power growth in the new housing sector with the North West & Merseyside reporting a massive 74% increase in new homes registered in the rolling quarter from April to June 2015 - up from 2,243 last year to 3,911.

While London and the South East continue to drive new housing growth in terms of volume of homes registered, there was a slight two per cent drop in the numbers of new homes registered in the capital over the rolling quarter. The South East saw a drop of 16%.

The public sector is also showing encouraging signs of a revival with a 13% increase in affordable homes registered in the whole of the UK over the last three months from 9,598 in Q2 2014 to 10,806 in Q2 2015.

As the leading warranty and insurance provider for new homes in the UK, NHBC's quarterly registration statistics help to provide new and accurate data on the country¿s new homes market.

The NHBC Foundation - NHBC's research arm - has commissioned two separate pieces of research to better understand the future housing needs of our ageing population as well as people looking to downsize.

Commenting on the latest registration statistics, NHBC Chief Executive Mike Quinton said: "We are very encouraged to see an increase in the number of retirement homes being registered. It is widely acknowledged that the UK has a shortage of homes for the elderly, which is having a knock on effect on the rest of the housing market.

"Our figures show that 2015 is shaping up to be an encouraging year for new housing growth with new housing registrations up 12 per cent on the second quarter of last year.

"However, we have made clear that while all signs of growth are to be welcomed, the UK is still building way below the volumes of homes that we need. There is a long way to go before our housing crisis is over."

Mike Jennings, Group Operations Director for McCarthy & Stone, said: "As the UK's leading retirement house builder we are encouraged to see a growing number of retirement property registrations. In the first six months of 2015 we have registered 1,850 new retirement apartments with the NHBC and we will be investing £2 billion in land and build over the next 4 years, which will deliver around 12,000 new retirement properties.

"However more has to be done to address the needs of last time buyers. There is a chronic undersupply of specialist retirement housing in the UK. We would like to see a national strategy for retirement housing and stronger government policies to support its provision.

"We look forward to working with the NHBC Foundation to advance thinking and create solutions to address the housing needs of our ageing population."

NHBC UK Q2 statistics for April - June 2015 show that:

During April 2015 - June 2015 the number of registrations was 41,268, a 12% increase on last year (36,986). Of these:

  • Private sector registrations in April 2015 ¿ June 2015 increased by 11% (30,462), compared with the same period last year (27,388).
  • Public sector registrations in April 2015 ¿ June 2015 increased by 13% (10,806) when compared to the same period last year (9,598).

Full regional breakdown of total new homes registered January 2015 - March 2015 by region/country:

Region

Q1&2 2015

Q1&2 2014

England - Regions

 

 

North East

2,760

2,679

North West

7,109

5,339

Yorkshire & the Humber

4,164

3,828

West Midlands

7,848

5,561

East Midlands

7,137

6,521

Eastern

8,640

6,211

South West

8,619

6,966

Greater London

12,634

15,088

South East

12,124

10,991

Totals for England

71,044

63,184

Scotland - Councils

6,430

5,103

Wales - Unitary Authorities

2,424

1,765

Northern Ireland - Counties

1,589

1,038

Totals for UK

81,487

71,152

 

NHBC's role is to support the industry in maintaining and improving the build quality of new homes for homebuyers, whilst providing the benefit of its 10-year Buildmark warranty protection, when required.

NHBC does this through a wide range of activities, from standards setting through technical support to warranty and insurance.

NHBC is a non-profit distributing organisation with no shareholders. It invests any surplus into activities that improve new homes further, in particular through its research arm, the NHBC Foundation.

NHBC is the leading warranty and insurance provider for new homes in the UK. NHBC's ten-year Buildmark warranty covers around 80 per cent of new homes built in the UK, having covered nearly eight million homes since it began and currently protecting around 1.6 million homes.

 

Further information and charts:

 

NHBC Media Contacts

James Hall | 01908 746 738 | 07435 786 851
Nadia Bedra | 01908 746 734 | 07501 226 656

News Date: 31/07/15