Q2 2003 new house-building statistics Scotland 14/02/06
House-building activity in Scotland decreased throughout the second quarter of 2003 according to statistics released today by NHBC.
NHBC figures for Scotland reveal that a total of 4,160 applications were made to start new homes during the quarter, showing a 29 per cent decrease on the same period in 2002 (5,868).
Malcolm MacLeod, NHBC's Regional Director Scotland, said: "As in the UK and Northern Ireland, the second quarter of 2002 saw a decrease in Scotland's new house building starts when compared with the same period last year. However, this is mainly a reflection of the exceptional number of starts in Scotland (5,868) in quarter two 2002."
In Scotland the average anticipated selling price of new homes (started by NHBC registered builders) during the second quarter of 2003 was £134,000, a 15 per cent increase on quarter two 2002 (£117,000). Based on actual selling price, the proportion of homes sold for over £100,000 was 68 per cent, an increase on the same period last year (52 per cent).
NHBC's first time buyers' ability to buy index decreased by two points during the quarter to 101 (quarter one 2003 was 103). 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 43,703 applications to start new homes during the second quarter, showing a five per cent decrease on the same period in 2002 (46,007). Of that total, 38,164 relate to private sector activity (i.e. excluding housing associations), showing an eight per cent decrease on the same quarter of 2002 (41,582). Housing association starts totalled 5,539 - an increase of 23 per cent on quarter two 2002 (4,501).
NHBC UK figures show that there were 44,495 new build completions during the second quarter of 2003, a 14 per cent increase on the same quarter last year (39,179).
The figure for the average daily sales of new homes in quarter two 2003 is 541, a decrease of eight per cent on the same period a year ago (590).
