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House-building up 12% in second quarter

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There was an 11.6% increase in new homes registered with the National House-Building Council (NHBC) in the second quarter of 2015.

 

Latest NHBC registration figures show that there were 41,268 new homes registered in the UK during Q2 this year, compared to 36,986 for Q2 2015.

Private sector registrations totalled 30,462 (2014 Q2: 27,388) and in the public sector there were 10,806 (2014 Q2: 9,598).

For the first six months of 2015 total new home registrations reached 81,487, a 14.5% increase on the 71,152 new homes registered by NHBC members in the first half of 2014.

As the table below shows, every region of the UK has seen house-building accelerate this year except for greater London, although that remains the busiest region.

The data come from new registrations for NHBC's warranty service, which covers an estimated 80% of the new home market.

Highlights of the statistics include booming development of retirement housing. During the first six months of 2015 there more homes built specifically for the elderly than during the whole of 2014. Builders registered f 2,337 retirement properties in the first half of this year, and just 1,919 during the whole of 2014.

NHBC chief executive Mike Quinton said: “We are very encouraged to see an increase in the number of retirement homes being registered. It is widely acknowledged that the UK has a shortage of homes for the elderly, which is having a knock on effect on the rest of the housing market.

"Our figures show that 2015 is shaping up to be an encouraging year for new housing growth with new housing registrations up 12% on the second quarter of last year. However, we have made clear that while all signs of growth are to be welcomed, the UK is still building way below the volumes of homes that we need. There is a long way to go before our housing crisis is over.”

McCarthy & Stone group operations director Mike Jennings said: “As the UK’s leading retirement house builder we are encouraged to see a growing number of retirement property registrations. In the first six months of 2015 we have registered 1,850 new retirement apartments with the NHBC and we will be investing £2 billion in land and build over the next four years, which will deliver around 12,000 new retirement properties.

“However more has to be done to address the needs of last time buyers. There is a chronic undersupply of specialist retirement housing in the UK. We would like to see a national strategy for retirement housing and stronger government policies to support its provision.

“We look forward to working with the NHBC Foundation to advance thinking and create solutions to address the housing needs of our ageing population.”

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