Q3 2003 new house-building statistics Scotland 14/02/06
House building activity in Scotland increased in quarter three of 2003 according to statistics released today by NHBC.
NHBC figures for Scotland show that a total of 4,827 applications were made to start new homes during the quarter, showing an 11 per cent increase on the same period in 2002 (4,339).
Malcolm MacLeod, NHBC's Regional Director Scotland, said: "Last quarter's statistics suggest Scotland's new housing market is doing very well - there was good growth in the number of new house building starts during the last quarter of 2003 when compared with the same period last year. There was also as a 17 per cent increase in the number of starts on the previous quarter and a good rise in house prices which is all encouraging news."
In Scotland the average anticipated selling price of new homes (started by NHBC registered builders) during the third quarter of 2003 was £143,000, a 12 per cent increase on quarter three 2002 (£128,000). Based on actual selling price, the proportion of homes sold for over £100,000 was 70 per cent, an increase on the same period last year (58 per cent).
NHBC's first time buyers' ability to buy index decreased by one point during the quarter to 99 (quarter two was 100.) 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 45,067 applications to start new homes during the third quarter, showing a nine per cent increase on the same period in 2002 (41,311). Of that total, 40,924 relate to private sector activity (i.e. excluding housing associations), showing a nine per cent increase on the same quarter of 2002 (37,567). Housing association starts totalled 4,143 - an increase of 11 per cent on quarter three 2002 (3,744).
NHBC UK figures show that there were 38,439 new build completions during quarter three of 2003, a four per cent decrease on the same quarter last year (40,072).
The figure for the average daily sales of new homes in quarter three 2003 was 507, a decrease of ten per cent on the same period a year ago (563).
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