Latest figures released by the National House Building Council (NHBC) for homes registered by builders responsible for building around 80% of new UK homes reveal that levels are at their highest for over 10 years.
London developments boost total UK new homes registered
The industry body attributes part of the rise in numbers to the increase in large developments across London.
As the main UK warranty and insurance provider, the NHBC requires builders to register houses with before commencing construction.
The total number of new homes registered between July and September 2018 stands at 43,578 – an increase of 15% year-on-year. This is the highest figure since Q3 in 2007, prior to the global financial crash, when the total of new homes reached 49,520.
Private sector new homes were up by 16% at 33,520 and in the affordable sector, the total of new homes recorded was 10,058 – an increase of 12%.
Regional growth in new homes registration
Official figures available indicate that the housebuilding sector delivered over 217,000 new homes across England in the financial year 2016-17, proving that the industry has fully recovered from the lows tracked during the financial crisis.
Demand for new build stands firm despite Brexit questions
NHBC’s chief executive, Steve Wood, said: “The industry remains cautious in the short-run until the economic impact of Brexit becomes clearer. However, the upturn in registrations over recent months is good news for the industry and shows that there remains a strong demand for high-quality new homes in many parts of the UK.”