Q4 2004 new house-building statistics UK 14/02/06
In Great Britain the average anticipated selling price of new homes started during quarter four of 2004, increased by three percent on the same period in 2003. First time buyers found their ability to buy rose in the fourth quarter. NHBC, the leading new home warranty and insurance provider for new homes in the UK, has published these figures in its `New House-Building Statistics' booklet for quarter four, 2004.
The average anticipated selling price of new homes in Great Britain (started by NHBC registered builders) was £179,000 during quarter four of 2004, a three percent increase on quarter four of 2003 (£173,000). Based on actual selling prices, the proportion of new homes priced at over £100,000 went up to 93 per cent, a significant increase on the same period in 2003 (88 per cent).
NHBC's first time buyers' ability to buy index increased by 4 points during the quarter to 72 (quarter three was 68). 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.
Imtiaz Farookhi, Chief Executive of NHBC, says:
"NHBC statistics show that the number of applications to start new homes in the private sector remained steady compared with quarter four of 2003 and the social housing sector has experienced growth during the same period. UK-wide figures show a total of 41,824 applications to start new homes during quarter four of 2004, showing a one percent decrease on the same period in 2003 (42,113). Of that total, 37,318 relate to private sector activity (i.e. excluding housing associations), showing a one percent decrease on the same quarter of 2003 (37,821). Housing association starts totalled 4,506 - an increase of five percent on quarter four of 2003 (4,292)."
NHBC UK figures (including the Isle of Man) show there were 48,853 new build completions during quarter four of 2004, showing a three per cent decrease on the same quarter last year (50,385).
The figure for the average daily sales of new homes in the UK for quarter four of 2004 was 525, a decrease of 8 percent on the same period in 2003 (570).
ends
Note to editors:
NHBC statistics are based almost exclusively on information relating to its 19,000 (approx.) registered house builders who construct about 85% of the new homes built in the UK. As such they represent a unique source of detailed, up-to-date information on new home construction and the house building industry.
