Q3 2004 new house-building statistics Scotland 14/02/06
House-building activity in Scotland decreased in the third quarter of 2004 according to statistics released today by NHBC.
NHBC figures for Scotland show that a total of 4,628 applications were made to start new homes during the quarter, showing a four percent decrease on the same period in 2003 (4,827).
In Scotland the average anticipated selling price of new homes (started by NHBC registered builders) during the third quarter of 2004 was £162,000, a 13 percent increase on quarter three of 2003 (£143,000). Based on actual selling price, the proportion of homes sold for over £100,000 was 83 percent, an increase on the same period last year (70 percent).
Malcolm MacLeod, NHBC Director for Scotland, says: "There was a slight decrease in the number of starts in Scotland for quarter three. However NHBC statistics show that so far this year the number of starts in Scotland are up ten percent on last year."
NHBC's first time buyers' ability to buy index decreased by seven points during the quarter to 68 (quarter two was 75). 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 48,909 applications to start new homes during quarter three of 2004, showing a nine percent increase on the same period in 2003 (45,067). Of that total, 43,407 relate to private sector activity (i.e. excluding housing associations), showing a six percent increase on the same quarter of 2003 (40,924). Housing association starts totalled 5,502 - an increase of 33 percent on quarter three of 2003 (4,143).
NHBC UK figures show that there were 40,101 new build completions during quarter three of 2004, showing a two percent increase on the same quarter last year (39,251).
The figure for the average daily sales of new homes in the UK for quarter three of 2004 was 546, an increase of eight percent on the same period in 2003 (507).
