The number of new homes registered by UK’s house builders and developers in January 2019 has increased by 9% annually, according to the latest statistics from the National House-Building Council (NHBC). This indicates stability in the UK housing market, which has been impacted by the delay in a Brexit deal.
As many as 12,677 new homes were registered at the start of the year; 8,931 were in the private sector while 3,746 were in the affordable sector. This year-on-year growth reflects the growing demand for homes in the UK.
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.
New homes registration has been growing consistently - between November 2018 and January 2019, there was a 2 per cent increase in new homes registration (38,611 new homes) when compared to the corresponding period in 2017-18. During this period, 26,668 new homes were registered in the private sector while 11,943 new homes were registered in the affordable sector.
Seven out of the 12 UK regions experienced growth in registrations during between November 2018 and January 2019 – notably Northern Ireland (+65 per cent), Wales (+20 per cent) and the South East (+19 per cent).
Though demand is likely to be subdued in view of Brexit, the market is poised for growth over the next five years.
NHBC Chief Executive Steve Wood said: “As a standalone month, the January figures show some solid growth, with a particularly good uplift in the affordable sector.