New home registrations hit 14-year high
New NHBC data released shows the strongest quarter for new build home registrations since 2007.
According to NHBC, the UK’s leading new home warranty and insurance provider, registrations peaked at a 14-year high to 46,452 homes in Q2 2021, demonstrating that supply is increasing rapidly, as house builders and developers respond to the strong demand for new homes.
There has been extraordinary growth compared to the second quarter of 2020 when lockdown restrictions were at their height and work on many sites was halted, with registrations up 130% and completions up 213% to 34,644 homes. Within this, private sector registrations were up 227% compared to Q2 2020, from 10,865 to 35,495, whilst the rental sector was up 17% from 9,375 to 10,957.
All UK regions have seen increased registrations in Q2 compared to last year, with the highest uplifts in the North East (+436%), Scotland (+417%), Northern Ireland and IOM (+230%) and North West (+212%).
NHBC Chief Executive Steve Wood said: “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.”
Source: Show House News
