Q4 2001 new house-building statistics UK 14/02/06
In Great Britain the average anticipated selling price of new homes started during the fourth quarter of 2001 increased by seven per cent on the same period in 2000. Despite this decrease there is good news for first time buyers who found their ability to buy improved in quarter four. The figures are published in NHBC's (National House-Building Council) report for quarter four 2001.
The average anticipated selling price of new homes (started by NHBC registered builders) was £145,000 during quarter four of 2001, a seven per cent increase on quarter four 2000 (£135,000). Based on actual selling prices, the proportion of homes priced at over £100,000 went up to 67 per cent, a significant increase on the same period last year (58 per cent). NHBC's first time buyers' ability to buy index increased by two points during the quarter to 108, a slight increase on the figure for quarter three of 2001 (106). 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 35,915 applications to start new homes during the quarter, a nine per cent increase on the same period in 2000 (32,853). Of that total, 32,847 relate to private sector activity (i.e. excluding housing associations), and show a nine per cent increase on 2000 (30,060). Housing association starts totalled 3,068 - an increase of 10 per cent on quarter four 2000 (2,790). NHBC UK figures show there were 37,093 new build completions during the fourth quarter of 2001, showing an increase of five per cent on the same quarter last year (38,786). The figure for the average daily sales of new homes in the fourth quarter of 2001 is 527, an increase of four per cent on the same period a year ago (507). ends
