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21/07/2021

New home registrations hit 14-year high

Words: Huw Morris

The number of new home registrations in the second quarter of this year reached its highest level since 2007, according to latest NHBC data.

Figures released by the new home warranty and insurance provider reveal that registrations peaked at a 14-year high of 46,452 homes between April and June – the strongest performance since the third quarter of 2007. It says the figures demonstrate that supply is increasing rapidly, as housebuilders and developers respond to strong demand for new homes.

NHBC also cited “extraordinary growth” against the second quarter of 2020, when many sites were shut in response to the initial Covid-19 lockdown. Registrations were up 130 per cent over the year while new home completions climbed 213 per cent to 34,644 homes.

Private sector registrations were up 227 per cent compared with the same quarter last year, from 10,865 to 35,495, while the rental sector was up 17 per cent from 9,375 to 10,957.

All UK regions have seen increased registrations in the quarter compared with last year – the highest uplifts are in the North East with 436 per cent, Scotland with 417 per cent, Northern Ireland and Isle of Man with 230 per cent, and the North West with 212 per cent.

“Our latest quarter’s registration statistics show the remarkable recovery the housebuilding industry has made since activity ground to a halt on site in April and May last year,” said NHBC chief executive Steve Wood. “A 14-year-high in new home registrations is quite something in the present environment.

“Despite the combined effects of the pandemic and Brexit causing labour shortages and some disruption to the supply of materials, the outlook for the medium term is a positive one. Demand for home ownership is holding strong alongside significant investor interest in the growing build-to-rent and retirement living sectors.”

Image credit | Shutterstock

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