New home registrations reach 14-year high

Published on

New NHBC data has revealed that the second quarter of 2021 was the strongest quarter for new build home registrations since 2007.

According to NHBC, the UK’s leading new home warranty and insurance provider, registrations peaked at a 14-year high to 46,452 homes in Q2 2021.

Not surprisingly there has been significant growth compared to the second quarter of 2020 when lockdown restrictions were at their height and work on many sites was halted, with registrations up 130% and completions up 213% to 34,644 homes. Within this, private sector registrations were up 227% compared to Q2 2020, from 10,865 to 35,495, whilst the rental sector was up 17% from 9,375 to 10,957.

All UK regions have seen increased registrations in Q2 compared to last year, with the highest uplifts in the North East (+436%), Scotland (+417%), Northern Ireland and IOM (+230%) and North West (+212%).

Steve Wood, NHBC chief executive, said: “Our latest quarter’s registration statistics show the remarkable recovery the house-building industry has made since activity ground to a halt on site in April and May last year. 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.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

ASAP launches remortgage conveyancing service for brokers

ASAP has expanded its intermediary proposition with the launch of a new specialist remortgage...

Trafford only northern hotspot in growing inheritance tax divide

Trafford is the only northern local authority emerging as a significant inheritance tax hotspot...

Vernon reports rise in later life lending after product refresh

Vernon Building Society has reported a sharp increase in later life lending, with retirement...

Beyond the walk: Mortgage leaders talk mental health – part 16

The Mortgage Industry Mental Health Charter's (MIMHC) third annual 144-mile Walk & Talk challenge...

Rising unemployment raises fresh arrears concerns for lenders

The UK labour market showed further signs of weakening this morning as unemployment rose...

Latest publication

Other news

ASAP launches remortgage conveyancing service for brokers

ASAP has expanded its intermediary proposition with the launch of a new specialist remortgage...

Trafford only northern hotspot in growing inheritance tax divide

Trafford is the only northern local authority emerging as a significant inheritance tax hotspot...

Vernon reports rise in later life lending after product refresh

Vernon Building Society has reported a sharp increase in later life lending, with retirement...