The new home registrations in the UK has gone up by 9 per cent annually, according to the latest data released by the NHBC. This indicates stability in the housing market, as the number of registrations is steadily increasing.
More than 13,500 new homes were registered to be built in August, according to NHBC’s new home registration statistics. While 13,569 new homes (10,811 private sector; 2,758 affordable sector) were registered during the month, 12,489 (9,153 private sector; 3,336 affordable sector) were registered in August 2016.
The rise in the UK's affordable sector can be attributed to several larger Housing Associations developing homes for market rent, private sale and shared ownership, along with a rise in joint ventures with the private sector.
Half of the 12 UK regions experienced growth in registrations over the rolling quarter, when compared to the same period last year. Scotland (3,381 +44 per cent), West Midlands (3,411 +27 per cent) and Wales (1,529 +25 per cent) were among the regions with most notable growth.
As the leading warranty and insurance provider for new homes in the UK, NHBC's registration statistics are a lead indicator of the UK’s new homes market.
NHBC Business Development Director Neil Jefferson said: "The sustained growth in new home registrations has continued as we approach the latter part of the year. The demand for new homes remains strong, so it is a promising sign that August's registrations show growth in both the private and affordable sectors and across half of the UK region."