New data released by NHBC reveals that new home completions have returned to pre-pandemic levels. A total of 40,289 were completed in Q2 2022, up 16% on Q2 2021.
The quarter also saw an increase in the number of new home registrations – the process by which house builders register plots they intend to build with NHBC – to 66,855, up by 45%.
The organisation says this uplift is in part due to builders seeking to minimise the cost impact of energy efficiency regulations introduced in June.
11 out of 12 UK regions saw growth in the number of new home completions, with the largest increases in the North East and East Midlands. Only Wales saw a slight decrease.
NHBC Chief Executive Steve Wood said: “Our latest figures demonstrate that output from the new homes market has made a solid return to pre-pandemic levels. At this stage we are not seeing evidence that the cost-of-living crisis or risks of recession are affecting consumer demand, whilst registration levels reinforce continued confidence within the sector.”
