The UK Housing Completions Reach Pre-Pandemic Proportions

World Construction Today – In the second quarter of 2022, 40,289 new residences with NHBC guarantees were built in the UK, an increase of 16% from the same time in 2021. The NHBC offers warranties to around 75% (+/-5%) of the market for housing.

The number of new home registrations, the procedure by which home builders register the plots they want to construct with NHBC, increased by 45% to 66,855 during the second quarter, which ran from April to June.

This increase is partially attributable to builders attempting to reduce the financial burden of the June-introduced energy efficiency rules. With the exception of Wales, where they decreased 1%, all 12 UK regions had an increase in the number of new home deliverables in Q2. The Northeast (up 39% to 1,781) and the East Midlands (up 34% to 4,117) saw the biggest gains.

The private sector led the growth in this category with 29,963 completed new homes in Q2 2022, up 23% from Q2 2021. 10,326 new homes were completed in the affordable housing and build-to-rent sectors, which was the same as the same time the previous year.

Their newest numbers illustrate that output from the new house market has made a healthy comeback to pre-pandemic levels, Steve Wood, NHBC chief executive, said. At this point, there is no indication that the cost-of-living problem or recessionary threats are having an impact on consumer demand, and registration figures are supporting industry confidence.