Q2 2001 new house-building statistics UK 14/02/06
In Great Britain the average expected selling price of new homes started during the second quarter of 2001 increased by nine per cent on the same period in 2000. Despite this increase there is bad news for first time buyers who found their ability to buy fell in the second quarter. The figures are published in NHBC's (National House-Building Council) report for quarter two 2001.
The average expected selling price of new homes (registered with NHBC) was £139,000 during the second quarter of 2001, a nine per cent increase on quarter two 2000 (£127,000). Based on actual selling prices, the proportion of homes priced at over £100,000 went up to 63 per cent, a significant increase on the same period last year (52 per cent). NHBC's first time buyers' ability to buy index decreased by three points during the quarter to106, a drop on the figure for the first quarter of 2001 (109). 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. Imtiaz Farookhi, chief executive of NHBC, says: "The decrease in quarter two registrations is disappointing. Poor weather and planning delays seem to be the most likely explanation. This follows a slow period for quarter one, which was also affected by poor weather conditions. It is hoped that starts will pick up over the summer months." UK-wide figures show a total of 37,657 applications to start new homes during the quarter, a six per cent decrease on the same period in 2000 (39,860). Of that total, 33,559 relate to private sector activity (i.e. excluding housing associations), and show an eight per cent decrease on 2000 (36,449). Housing association starts totalled 4,098 - an increase of twenty per cent on quarter two 2000 (3,411). NHBC UK figures show there were 37,397 new build completions during the second quarter of 2001, showing drop of seven per cent on the same quarter last year (40,056). The figure for the average daily sales of new homes in the second quarter of 2001 is 555, a decrease of five per cent on the same period a year ago (582). ends
