Q3 2005 new house building statistics UK 14/02/06

In Great Britain the average anticipated selling price of new homes started during the third quarter of 2005, decreased by one per cent on the same period in 2004. First time buyers found their ability to buy rose slightly in the third 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 3, 2005. The average anticipated selling price of new homes in Great Britain (started by NHBC registered builders) was £181,000 during quarter three of 2005, a one per cent decrease on quarter three of 2004 (£183,000). Based on actual selling prices, the proportion of new homes priced at over £150,000 went up to 70 per cent, an increase on the same period in 2004 (68 per cent).

NHBC's first time buyers ability to buy index increased by four points during the quarter to 61 (the figure for quarter two, 2005 was 57). 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 social housing registrations remain strong and overall the number of new homes started in the UK so far this year remains relatively stable, just two per cent down on the same period last year. It's important to note though, the rate of sales for the current financial year has been lower than last year, and some builders are anticipating a reduction in sales for the financial year as a whole."

UK-wide figures (including the Isle of Man) show a total of 46,748 applications to start new homes during the third quarter of 2005, showing a four per cent decrease on the same period in 2004 (48,909). Of that total, 38,847 relate to private sector activity (i.e. excluding housing associations), showing an 11 per cent decrease on the same quarter of 2004 (43,407). Housing association starts totalled 7,901 - an increase of 44 per cent on quarter three of 2004 (5,502).

NHBC UK figures (including the Isle of Man) show there were 41,669 new build completions during quarter three of 2005, showing a one per cent increase on the same quarter last year (41,073).

The figure for the average daily sales of new homes in the UK for the third quarter of 2005 was 542, a decrease of one per cent on the same period in 2004 (546).

Quarter 3 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.