The new home registrations in the UK during the 2017-18 financial year were the second highest in a decade, according to latest data from NHBC (National House Building Council).
Figures from NHBC revealed that 154,698 new homes were registered to be built in the 2017-18 financial year. It represents the second highest number of registrations in a decade - a slight decrease of 2 per cent on the record 157,805 registrations seen in the 2016-17 financial year, with growth in six out of 12 of the UK regions.
The first three quarters of 2017-18 saw growth in comparison to the previous year. As many as 116,451 new homes were registered in the private sector (compared to 117,987 in 2016-17) and 38,247 homes were registered in the affordable sector (compared to 39,818 in 2016-17).
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.
The new figures revealed a slower start to 2018, with 36,637 new homes registered in the first three months of the year, compared to 42,405 in the same period last year, a decrease of 14 per cent. This fall is partly attributed to the exceptionally harsh weather during the start of the year affecting progress on building sites across the country.
NHBC Chief Executive Steve Wood said: Business confidence in both the private and affordable sectors remains high with clear routes to continued growth in 2018.