According to the figures from the NHBC more than 13,500 new build homes were *registered to be built in April. This represents an increase of 21% compared with the same time last year.
In total 13,527 new homes were registered, of which 9,972 were in the private sector and 3,555 were in the affordable / rental sector. Last year there were 11,218 new home registrations, with 7,427 in the private sector and 3,791 in the affordable / rental sector.
Regionally, 7 out of the 12 UK regions enjoyed increases, with London seeing an upsurge of 61%. These increases have been driven by the popularity of larger developments and growth in the PRS (Private rented sector) market. In part, the figures also show the impact of the freezing weather conditions in the Spring of 2018.
When considered from a rolling quarterly perspective, there were 38,496 new build registrations between February – April. During the same time period last year there were 36,042 registrations, with the increases in registrations of 4% for the private sector and the affordable / rental sector seeing rises of 14%.
NHBC Chief Executive Steve Wood commented that “It is great to see another strong month for new home registrations. To date, there is little evidence that Brexit uncertainties are denting developer confidence, whilst the continued flow of inward investment into the private rental sector is another good sign of resilience.”
* Registrations refers to the process of a builder registering a new plot / home to be built in the coming months or weeks, that would be covered by the NHBC’s ten-year warranty.
As land and new build property specialists, LSL Land & New Homes can help you with all aspects of the process from land acquisition to new build development sales and marketing services. Click here for more information...