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08/02/2019

UK developers keep up pace on new housing development

Words: Huw Morris
Housing development / iStock: 138271873

The number of homes registered to be built by UK housebuilders last year was in line with 2017 figures.

Latest National House Building Council statistics (NHBC) reveal that developers registered 159,617 new homes in 2018 – a 0.5 per cent fall on the 160,396 recorded in 2017. 

The private sector was down 1 per cent to 117,497 from 118,372 in 2017, with the affordable sector essentially level at 42,120 in 2018 compared with 42,024 the previous year.

New home completions for the year were also stable, up 1 per cent on 2017 to 149,480 from 147,552.

Six out of the 12 UK regions saw growth in 2018 when compared with 2017, including Yorkshire and Humberside with 20 per cent, the North West at 7 per cent and Northern Ireland, which grew significantly by 39 per cent. In London, new home registrations were down 10 per cent in 2018 at 16,069  compared with 17,932 in 2017 as the capital’s private housing market bore the brunt of continuing political and economic uncertainties, the NHBC added.

For 2018 as a whole, eight of the 12 months showed an increase in registrations on the same period a year before, including seven straight months of growth following the slow start to the year caused by freezing weather and despite uncertainty in the development industry around Brexit.

NHBC chief executive Steve Wood said the figures showed the continued resilience of the UK housebuilding industry.

Image credit | iStock 

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