Q1 2004 new house-building statistics Scotland 14/02/06
House-building activity in Scotland increased in the first of 2004 according to statistics released today by NHBC.
NHBC figures for Scotland show that a total of 5,751 applications were made to start new homes during the quarter, showing a 16 per cent increase on the same period in 2003 (4,961).
Malcolm MacLeod, NHBC's Regional Director Scotland, said: "The number of registrations in Scotland has shown strong growth in the first quarter of this year. Our figures show that the number of NHBC registrations increased by over forty per cent on quarter four of 2003."
In Scotland the average anticipated selling price of new homes (started by NHBC registered builders) during the first quarter of 2004 was £157,000, a 22 per cent increase on quarter one of 2003 (£129,000). Based on actual selling price, the proportion of homes sold for over £100,000 was 77 per cent, an increase on the same period last year (65 per cent).
NHBC's first time buyers' ability to buy index decreased by seven points during the quarter to 87 (quarter four was 94.) 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 48,502 applications to start new homes during quarter one of 2004, showing less than one per cent increase on the same period in 2003 (48,136). Of that total, 42,906 relate to private sector activity (i.e. excluding housing associations), showing little change on the same quarter of 2003 (42,634). Housing association starts totalled 5,596 - an increase of one per cent on quarter one 2003 (5,546).
NHBC UK figures show that there were 33,709 new build completions during quarter one of 2004, a 13 per cent decrease on the same quarter last year (38,670).
The figure for the average daily sales of new homes in quarter one 2004 was 542, an increase of six per cent on the same period in 2003 (512).
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