More than 42,000 new homes were registered in the UK by NHBC in the first three months of the year, according to NHBC’s latest new home registration statistics.
42,470 new homes were registered in Q1, an increase of 17% on the 36,351 registered 12 months ago – resulting in the highest quarter in 10 years.
31,197 homes were registered in the private sector, an increase of 10% on the same period a year ago (28,278), with 11,273 new homes registered in the affordable sector, representing a 40% increase on 2016 numbers (8,073).
New home statistics for the financial year also reveal a 4% increase for 2016/17 with a total of 157,898 new homes registered compared to 151,599 in 2015/16. Additionally, new home completions for the financial year increased by 5% to 145,282, up from 137,826 in 2015/16.
For the first time in seven years all 12 regions across the UK experienced growth in registrations, when compared to the same period 12 months ago. The North East (+39%), London (+38%) and Eastern (+31%) were among the regions with the most notable growth.
As the leading warranty and insurance provider for new homes in the UK, NHBC's registration statistics are a lead indicator of the country's new homes market.
Commenting on the latest new home statistics, NHBC Managing Director Neil Jefferson said: “These figures, with growth across the entire country, are clearly encouraging for the sector, at a time when there is considerable demand for new, high-quality homes.
"This growth in Registrations, in both the private and affordable sector, is welcome news and will result in more newly built homes across the UK over the coming months."
NHBC UK statistics for Q1 2017 show that:
In Q1 2017 the number of registrations was 42,470, a 17% increase on last year (36,351). Of these:
- Private sector registrations in 2017 increased by 10% (31,197), compared with the same period in 2016 (28,278).
- Affordable sector registrations in 2017 increased by 40% (11,273) when compared to 2016 (8,073).
Full regional breakdown of total new homes registered in Q1 2017 by region/country: