New home registrations in the UK hit a record high in July for the year 2018. As many as 15,800 new homes were registered to be built in July, a 35 per cent increase over the corresponding month last year.
According to statistics released by NHBC, new builds in the private sector continued to dominate the new home registrations. While 12,087 new homes were registered in the private sector in July 2018 (8,421 in July 2017), 3,782 new homes were registered in the affordable sector (3,362 in July 2017).
Over this period, London experienced an 86 per cent increase in registrations, partly due to an increase in the number of large housing association and private rental sector developments registered in the capital.
As the leading warranty and insurance provider for new homes in the UK, NHBC's registration statistics are a lead indicator for the new homes market. These statistics reveal that the new build homes market in the UK continues to grow.
For the rolling quarter, between May and July, 43,600 new homes were registered compared to 39,421 in 2017 - an increase of 11 per cent. During this period, there were 31,264 new homes registered in the private sector (28,056 in 2017: +11 per cent) and 12,336 new homes registered in the affordable sector (11,365 in 2017: +9 per cent).
NHBC Chief Executive Steve Wood said: "Following a slow start to the year due to the extreme weather, we have had promising new home figures in recent months with July seeing a real uplift. Over the last three months we have had growth in new home registrations in eight out of 12 UK regions, with London leading the way."