Malcolm MacLeod, director of NHBC Scotland, says: "The new homes market appears to be buoyant. It is encouraging to see this and to note the stability of Scottish housing starts at a time when England, Wales and Northern Ireland have seen a downturn in the number of homes being built."

In Scotland the average anticipated selling price of new homes (registered with NHBC) during the first quarter of 2001 was £99,000, a 14 per cent increase on quarter one 2000 (£87,000). Based on actual selling price, the proportion of homes sold for over £100,000 was 29 per cent, an increase on the same period last year (27 per cent).

NHBC's first time buyers' ability to buy index increased by one point during the quarter to reach 116, a slight rise over the figure for the fourth quarter of 2000 (115). 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 show a total of 39,895 applications to start new homes during the quarter, an eight per cent decrease on the same period in 2000 (43,430). Of that total, 36,095 relate to private sector activity (i.e. excluding housing associations), and show an eight per cent decrease on 2000 (39,360). Housing association starts totalled 3,800, a decrease of seven per cent on quarter one 2000 (4,070).

NHBC figures show there were 33,035 new build completions during the first quarter of 2001, showing drop of eight per cent on the same quarter last year (36,045).

The figure for the average daily sales of new homes in the first quarter of 2001 is 506, a decrease of three per cent on the same period a year ago (521).

Q1 2001 regional figures

ends