New home registrations in the UK hit an 11-year-high during July-September 2018, according to latest data from the National House-Building Council (NHBC).
UK builders registered more than 43,500 new homes during the third quarter of 2018, making it the highest quarter since 2007. As many as 43,578 new homes were registered during the period July - September, an increase of 15 per cent on the 37,940 registered in the same period 12 months ago. The total makes it the highest quarter since the third quarter of 2007 when 49,520 new homes were registered.
In the private sector 33,520 new homes were registered, an increase of 16 per cent over the corresponding period last year (28,921 in July-Sept 2017). The affordable segment saw a 12 per cent increase in new homes registration over last year with 10,058 units registered in July-Sept 2018 (9,019 in July-Sept 2017).
London has seen a dramatic increase in registrations, up 141 per cent to 6,007, compared to the lower than usual figure of 2,492 in the same period last year. This is partly due to a number of large developments being registered by housing associations and by inwards investors focused on the private rental sector, according to the NHBC.
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 Chief Executive Steve Wood said: "The upturn in registrations over recent months is good news for the industry and shows that there remains a strong demand for high quality new homes in many parts of the UK."