Uplift in London new home growth, reports NHBC

More than 13,700 new homes were registered to be built in the UK during August, according to the latest NHBC registration figures, with strong growth in London.

13,713 new homes were registered in August 2018, a 1% increase on the same month last year. 10,588 new homes were registered for the private sector (10,738 in 2017), and 3,125 in the affordable sector (2,801 in 2017).

For the rolling quarter, between June and August, 42,547 new homes were registered compared to 38,296 in 2017 – an increase of 11%. During this period there were 30,738 new homes registered in the private sector (28,660 in 2017: +7%) and 11,809 in the affordable sector (9,636 in 2017: +23%).

In London, a considerable increase in the number of private rental sector developments and large housing association projects during this three month period has contributed to a 145% increase in registrations compared to the same period in 2017.

As the leading warranty and insurance provider for new homes in the UK, NHBC's registration statistics are a lead indicator for the new homes market.

Commenting on the August figures, NHBC Chief Executive Steve Wood said: "We continue to see strong numbers in many parts of the UK with a substantial uplift in London, driven by increased activity by housing associations and the continued flow of inward investment on for-sale and private rental developments.

"The continuing uncertainties around Brexit and the UK’s economic outlook do not seem sufficient to dent confidence in the new homes market, where NHBC’s focus remains on helping developers to build more, high-quality homes for people across the country."

NHBC UK statistics for June - August show that

The number of NHBC new home registrations was 42,547 compared to 38,296 a year ago, of these:

• 30,738 were registered in the private sector, compared to 28,660 in the previous year.
• 11,809 were registered in the affordable sector, compared to 9,636 in the previous year.

Full regional breakdown of total new homes registered during this period

Registrations refer to the process of a builder registering a new plot/home to be built in the coming months or weeks, to be covered by NHBC’s ten-year Buildmark warranty. Completions refer to when a new home is completed as indicated by NHBC inspectors.

Changes can occur between figures published at different times owing to changes in policies and cancellations.

NHBC is the leading warranty and insurance provider for new homes in the UK. NHBC's ten-year Buildmark warranty covers around 80 per cent of new homes built in the UK, having covered nearly eight million homes since it began and currently protecting around 1.5 million homes. NHBC is a non-profit distributing organisation with no shareholders.