NHBC: New build registrations up 10% in Q1
New build home registrations were up 10% in Q1 2021 compared to the same period in 2020, according to figures released by NHBC.
A total of 36,863 new homes were registered with NHBC in the first quarter of 2021 compared to 33,388 in the same period last year.
Additionally, 33,074 house completions were recorded, a 4% uplift on Q1 2020 (31,652).
Private sector registrations were up 10% compared to Q1 2020, from 24,615 to 26,985, whilst the rental sector saw registrations up 13% to 9,878 (8,773 in Q1 2020).
The desire for longer-term working from home has been accelerated by the pandemic, with increased registrations for detached and semi-detached houses, up 18% and 30% respectively compared to Q1 2020, whilst 21% fewer apartments were registered.
Nine out of 12 UK regions have seen increased registrations in Q1 compared to last year, with the highest uplifts in the North East (61%), Eastern (42%) and South West (31%).
In contrast, registrations fell 29% in London, 21% in West Midlands and 14% in Wales.
Steve Wood, chief executive of NHBC, said: “It is encouraging to see that new home registrations at the start of 2021 have overtaken registrations from the same time last year.
“Demand for detached and semi-detached houses has increased significantly during the pandemic, which has accelerated the longer-term trend to more home-based working.
“Increased new home registrations reflect growing confidence amongst builders, most of whom are forward sold through the summer.
“Allied to continued investment in Build to Rent, this suggests a strong outlook for the new-build sector in the year ahead.”