Home completions return to pre-pandemic levels: NHBC | Mortgage Strategy

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New home completions came in at 40,289 in the second quarter of the year, up 16% from the same period a year ago, returning housebuilding to pre-pandemic levels, says the National House-Building Council.

It adds that the quarter also saw a rise in the number of new home registrations – the process by which housebuilders register plots they intend to build with the body – to 66,855, up by 45%.

The council says: “This uplift is in part due to builders seeking to minimise the cost impact of energy efficiency regulations introduced in June.”

It says that 11 out of 12 UK regions saw growth in the number of new home completions, with the largest increases in the North East (1,781 in the second quarter of 2022, compared to 1,284 in the second quarter of 2021) and East Midlands (4,117 in the second quarter of 2022, compared to 3,071 in the second quarter of 2021).

Only Wales saw a slight decrease (1,183 in the second quarter of 2022, compared to 1,189 in the second quarter of 2021).

The council says “growth in new home completions was driven by the private sector” with 29,963 in the second quarter of 2022, up 23% from the second quarter of 2021.

New home completions in the affordable and build-to-rent sector were level with the same period last year at 10,326.

National House-Building Council chief executive Steve Wood says: “Our latest figures demonstrate that output from the new homes market has made a solid return to pre-pandemic levels.

“At this stage we are not seeing evidence that the cost-of-living crisis or risks of recession are affecting consumer demand, while registration levels reinforce continued confidence within the sector.”


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