Q4 2005 new house-building statistics UK 14/02/06

In Great Britain the average anticipated selling price of new homes started during quarter four of 2005, decreased by three per cent on the same period in 2004. First time buyers found their ability to buy rose slightly 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, 2005.  

The average anticipated selling price of new homes in Great Britain (started by NHBC registered builders) was £181,000 during quarter four of 2005, a three per cent decrease on quarter four of 2004 (£186,000). Based on actual selling prices, the proportion of new homes priced at over £150,000 went up to 70 per cent, a slight increase on the same period in 2004 (68 per cent).

NHBC's first time buyers' ability to buy index increased by three points during the quarter to 64 (the figure for quarter three 2005 was 61). 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, NHBC Chief Executive, says:

"With the Government's call upon house builders to deliver more high quality homes across the UK, the number of new houses being built is under particular scrutiny. NHBC statistics, which are derived from house builders who construct about 85 per cent of the new homes built in the UK, show that the overall the number of new homes started in 2005 was the second highest in the past 11 years.

The number of private and social housing registrations during 2005 totalled 180,777, the second highest number of homes started since 1994.

Furthermore, figures show that the number of social housing homes registered with NHBC during the year was exceptionally strong. Our end of year figures show that there was a 39 per cent increase in the number of social housing homes registered with NHBC compared to the previous year. "

UK-wide figures (including the Isle of Man) show a total of 40,352 applications to start new homes during the fourth quarter of 2005, showing a four per cent decrease on the same period in 2004 (41,824). Of that total, 33,454 relate to private sector activity (i.e. excluding housing associations), showing a 10 per cent decrease on the same quarter of 2004 (37,318). Housing association starts totalled 6,898 - an increase of 53 per cent on quarter four of 2004 (4,506).

NHBC UK figures (including the Isle of Man) show there were 47,235 new build completions during quarter four of 2005, showing a three per cent decrease on the same quarter last year (48,914).

The average number of daily sales of new homes in the UK for quarter four 2005 was 540, an increase of three per cent on the same period in 2004 (525).

Quarter 4 2005 Regional Figures

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.