New homes registered to be built in the UK increased by 21 per cent annually with the private sector driving the growth.
As many as 13,527 new homes were registered to be built in April 2019, up 21 per cent over corresponding period in 2018, according to latest data from National House-Building Council (NHBC).
The private sector accounted for 9,972 homes registered to be built compared to 7,427 a year ago. In April 2019, 3,555 affordable and rental sector homes were registered to be built.
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.
Seven of the 12 UK regions saw an increase, with London seeing another considerable rise in registrations – up 61 per cent (5,475 in 2019 v 3,397 in 2018). This is driven by growth in the numbers of larger developments and an increased appetite in the private rental sector. In addition, the strong level of growth compared to April last year is partly due to the impact of the freezing weather in Spring 2018.
Over a rolling quarter, 38,496 new homes were registered to be built compared to 36,042 in the same February – April period last year. The private sector was up 4 per cent (27,881 in 2019 v 26,754 in 2018), with the affordable and rental sector up 14 per cent, NHBC said.
NHBC Chief Executive Steve Wood said: “It is great to see another strong month for new home registrations. To date, there is little evidence that Brexit uncertainties are denting developer confidence, whilst the continued flow of inward investment into the private rental sector is another good sign of resilience.”