Is Britain building again? New home registrations rose by 6% during 2017, says NHBC
Trade body reveals more homes were registered and built last year across most regions, including the first rise in London for three years.
The promise by the Conservatives to get the UK building again is being delivered if the most recent new home registrations from NHBC are any thing to go by.
It says 160,000 homes were registered to be built last year in the UK, an increase of 6% on 2016 during which 152,017 properties were registered.
NHBC’s new homes registration figures aren’t always an comprehensive view of the market, partially because its members only represent 80% of all builders, and also because registrations don’t always turn into bricks and mortar.
For example, only 141,685 new homes were built last year, nearly 19% fewer than the number registered.
Nevertheless, NHBC says the number of homes built by the private sector grew year-on-year during 2017 by 3% to 118,825. Also, the number of affordable homes increased 14% to 31,781, the highest ever figure.
The surge in house building took place in nine out of the UK’s 12 regions and includes London, which has seen a decline in the number of new homes registered every year since 2014, helping reassure agents there that it’s property market may be reviving.
Other areas of the country which saw significant increases include the East Midlands, Wales and the North West.
“Our figures show the market has delivered strong growth resulting in the highest new home figures for a decade and growth across the majority of the UK, including London for the first time since 2014,” says NHBC Chief Executive Steve Wood (pictured, left).
“Looking ahead, NHBC will continue to work with the industry to help raise the standards of new homes.”
But despite the improving figures, the government still has an uphill struggle ahead of it – the Ministry of Housing, Communities and Local Communities has promised Britain will be building 300,000 a year by the mid-2020s.
