Q4 2004 new house-building statistics Scotland 14/02/06
House-building activity in Scotland increased in the fourth quarter of 2004 according to statistics released today by NHBC.
NHBC figures for Scotland show that a total of 4,292 applications were made to start new homes during the quarter, showing a six percent increase on the same period in 2003 (4,036).
In Scotland the average anticipated selling price of new homes (started by NHBC registered builders) during the fourth quarter of 2004 was £180,000, a 25 percent increase on quarter four of 2003 (£144,000). Based on actual selling price, the proportion of homes sold for over £100,000 was 85 percent, an increase on the same period last year (76 percent).
Malcolm MacLeod, NHBC Director for Scotland, says: "Despite the slight decrease in the number of starts for quarter three, NHBC statistics for quarter four are encouraging and statistics for the whole year show the number of starts in Scotland are up ten per cent on last year."
NHBC's first time buyers' ability to buy index increased by four 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.
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 the fourth 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).
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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.
