The number of new homes registered to be built in the UK increased by 6 per cent annually in October 2019 to reach 15,343, according to latest statistics from the National House Building Council (NHBC). This indicates the stability in the UK housing market as housebuilders continue to register new homes month-on-month.
The private sector continued to dominate the new homes registration in October with 10,688 units, demonstrating the strong demand for homes in the private sector. There were 4,655 registrations in the affordable and rental sectors. The figure makes October the second busiest registration month of 2019 to date. For the rolling quarter, between August and October, 40,472 new homes were registered.
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 during this period, there was growth in four out of the 12 UK regions, including the West Midlands (+56 per cent), London (+10 per cent) and Yorkshire and Humberside (+6 per cent).
The breakdown of region-wise registration of new homes is led by South East (7,332), West Midlands (5,202), Eastern (4,334), London (4,372), North West & Merseyside (3,327), East Midlands (3,177), Yorkshire and Humberside (2,829) and South West (2,954).
Though Brexit-related uncertainty has impacted the UK property market, the increase in new homes registration reflects the strong fundamentals of the housing sector.
NHBC Chief Executive Steve Wood said: "Following several months of slowdown as a result of Brexit uncertainties, it is promising to see encouraging numbers for October."