Housing Completions Show Moderate Rise 13/12/07

Statistics released today by NHBC reveal that the number of new homes completed in the UK increased by a small percentage year-on-year during the period from August to October 2007.

NHBC statistics show that 44,316 new homes were completed in the three months from August to October 2007 - a five per cent increase on the same three month period a year ago (42,199). Of that total, 37,093 related to private sector activity (i.e. excluding housing associations), showing a three per cent increase on the same period in 2006 (36,181).

Housing association completions increased in the three months to the end of October this year with completions totalling 7,223, an increase of 20 per cent on the same period a year ago (6,018).

Imtiaz Farookhi, NHBC Chief Executive, says: "There was a modest increase in housing completions during the three months to the end of October compared to the same period last year. So far this year, NHBC figures show that a total of 149,127 new homes have been completed, one per cent ahead of last year's figure of 147,082."

Additional figures for the three months from August 2007 to October 2007 show that the average number of new homes sold each day in the UK was 485, a decrease of 12 per cent on the same period a year ago (554).

Ends

Notes to editors:

NHBC statistics are based almost exclusively on information relating to its 20,000 (approx.) registered house builders who construct more than 80% 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.

NHBC is the leading warranty and insurance provider for new homes in the UK. It was established more than 70 years ago as a non-profit distributing company. NHBC's primary purpose is to help raise standards in the new house-building industry and provide consumer protection for new house buyers. NHBC's ten year 'Buildmark' warranty covers more than 80% of homes built in the UK and has protected almost 7 million homes.