New home registrations at 14-year high: NHBC | Mortgage Strategy

Img

The number of properties registered under the National House Building Council’s warranty scheme reached a 14-year high of 46,452 homes in the second quarter.

Year-on-year comparisons are impacted by the fact that construction was halted on many sites during lockdown in 2020.

Registrations were up 130% compared to Q2 last year.

Completions were 213% higher year on year, to reach 34,644 homes. 

Within this, private sector registrations were up 227% compared to Q2 2020, from 10,865 to 35,495, while in the rental sector they were up 17% from 9,375 to 10,957.

All UK regions have seen a jump in registrations in Q2 compared to last year, with the highest increases in the North East (+436%), Scotland (+417%), Northern Ireland and Isle of Man (+230%) and in the North West (+212%).

NHBC chief executive Steve Wood says: “Our latest quarter’s registration statistics show the remarkable recovery the house-building industry has made since activity ground to a halt on site in April and May last year. 

“A 14-year-high in new home registrations is quite something in the present environment.

“Despite the combined effects of the pandemic and Brexit causing labour shortages and some disruption to the supply of materials, the outlook for the medium term is a positive one. 

“Demand for home ownership is holding strong alongside significant investor interest in the growing build to rent and retirement living sectors.”


More From Life Style