New home registrations reaches highest Q3 levels since 2007
Builders registered nearly 38,000 new homes in the UK during Q3, making it the highest third quarter total in a decade according to the NHBC’s latest new home registration statistics.
Between July and September, 37,936 new homes were registered representing a 6% increase on the 35,946 registered in the same period last year.
The private sector saw a 9% increase for the quarter whilst the affordable sector saw a 5% yearly decrease, the NHBC data reveals.
Scotland, the East Midlands and the North East were among the regions with most notable growth in registrations with increases of 50%, 42% and 34% respectively.
Registrations of house types have changed too, with detached houses attracting the most registrations, closely followed by semi-detached properties, apartments and terraced.
Registrations for bungalows have been on a steady decline since 1989, now making up just 2% of new home registrations.
Steve Wood, chief executive at the HNBC, said: “We have seen encouraging growth in terms of the number of new homes being registered over the last three months, across many parts of the country.
“With demand for high quality new homes as strong as ever, this is positive news for the industry and prospective homebuyers, particularly in light of the current political and economic uncertainties.”