The number of new homes registered in the UK increased by 7 per cent annually in October 2018 with private sector experiencing 8 per cent growth.
According to NHBC (National House Building Council) statistics, 14,579 new homes were registered last month with the private sector accounting for the bulk – 11,097 units. This demonstrates the buoyancy in the private sector, as the demand for quality homes continues to rise in the UK.
For the rolling quarter, between August and October, 42,307 new homes were registered compared to 39,625 in 2017 – an increase of 7 per cent. During this period, there were 32,565 new homes registered in the private sector (30,871 in 2017: +5 per cent) and 9,742 in the affordable sector (8,754 in 2017: +11 per cent).
Overall, there is growth in eight out of 12 UK regions, including Yorkshire & Humberside (+34 per cent), London (+31 per cent) and the South West (+24 per cent).
NHBC is the leading warranty and insurance provider for new homes in the UK and its registration statistics are a lead indicator for the new homes market.
Although there is some caution in view of the impending Brexit deal, NHBC expects a strong end to the year, as the industry strives to build more new, high-quality homes that the UK needs.
NHBC Chief Executive Steve Wood said: "Despite a slow start to the year because of the extreme weather conditions, it is very pleasing to report that the upturn in registrations we saw over the summer is continuing."