New homes growth continued to spur the UK residential property market in the last two months of 2018, according to the latest report from the National House Building Council (NHBC).
In November 2018, as many as 15,155 new homes were registered to be built, the second highest monthly total of 2018. The private sector continued to play a major role with 11,135 new homes, a 2 per cent increase on the 14,802 a year ago.
For the rolling quarter, between September and November 2018, 43,745 new homes were registered compared to 40,858 in 2017 – an increase of 7 per cent. During this period, there were 33,104 new homes registered in the private sector (31,146 in 2017: +6 per cent) and 10,641 in the affordable sector (9,712 in 2017: +10 per cent), NHBC said.
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.
Overall, nine of the 12 UK regions saw an increase in new home registrations in the rolling quarter. Yorkshire & Humberside (+43 per cent), Wales (+34 per cent) and the South West (+21 per cent).
The NHBC expects the same house building activity to continue in 2019 in view of growing demand.
NHBC Chief Executive Steve Wood said: "As we reach the end of the year it is reassuring to see continued strong new home registration numbers, with growth across the majority of the UK."