UK new home registrations level with 2017, reports NHBC.
The number of new homes registered to be built by the UK’s housebuilders in 2018 was in line with 2017 figures, according to NHBC’s annual new homes statistics.
Overall, developers registered 159,617 new homes with NHBC over the year, a 0.5% decrease on the 160,396 in 2017. The private sector was down 1% (117,497 in 2018) with the affordable sector essentially level (42,120 in 2018; 42,024 in 2017).
New home completions for the year were also stable, up 1% on 2017 at 149,480 in 2018.
As a leading warranty and insurance provider for new homes in the UK, NHBC’s registration statistics are a lead indicator of the UK’s new homes market. The organisation’s ten-year Buildmark warranty covers around 80 per cent of new homes built in the UK.
Commenting on the new home registrations statistics for 2018, NHBC Chief Executive Steve Wood said: “The full–year figures of nearly 160,000 new home registrations demonstrate the resilience of the UK house-building industry. 2018 has been a demanding year, with the extreme weather conditions in the early part and the continuing political and economic uncertainties, which are extending into 2019.”
For the year as a whole, eight of the 12 months showed an increase in registrations on the same period a year ago. This includes seven straight months of growth following the slow start to the year, caused by the freezing weather conditions, and is despite uncertainty in the industry around Brexit.
Overall, there was growth in six out of the 12 UK regions in 2018 when compared to 2017, including Yorkshire & Humberside (+20%), the North West (+7%) and Northern Ireland (+39%). In London, new home registrations were down 10% in 2018 at 16,069.