London new home registrations hit highest level since records began

The number of new homes registered in London last year was the highest since electronic records began over 26 years ago – new figures from NHBC have revealed.

In total 26,230 new homes were registered in the capital last year, a 60% increase on 2012 figures (16,364).

Overall, annual figures for new home registrations in the UK increased by 28% in 2013, compared to the previous year. This is the highest number of registrations (133,670) since the economic downturn in 2007.

The figures also show a broad based sustained recovery across England with all regions reporting an increase in housebuilding registrations from last year. Scotland and Northern Ireland also reported year-on-year increases.

As the leading warranty and insurance provider for new homes in the UK, NHBC’s registration statistics provide significant insight on the country’s new homes market.

In summary, NHBC’s annual statistics for 2013 reveal:

  • 133,670 new UK homes were registered last year compared to 104,514 in 2012.
  • All English regions reported growth on 2012 figures
  • UK private sector up 25% on 2012 (97,399 – 78,125)
  • UK public sector up 37% on 2012 (36,271 – 26,389)
  • Registrations in Scotland and Northern Ireland also up on 2012
  • Increase in smaller builders joining NHBC register (Average of 50 new builders a month joining the register July – Dec 2013)

Commenting on the annual statistics, NHBC Chief Executive Mike Quinton said:

“Looking back at 2013 it is very clear that it has been the best in a number of years for the sector as a whole, across the entire country. Over the year, we have seen a genuine return of confidence to the industry as builders strive to meet the growing demand for new homes that the UK clearly needs. Government initiatives such as Help to Buy have also contributed to registrations increasing at their fastest rate since the downturn.

“According to our records, London enjoyed its highest ever annual total of new home registrations. This can be attributed to prime sites, such as Nine Elms, now being redeveloped largely for residential use, an increase from overseas investment into the market and the capital’s continued appeal as a property hotspot.

“However, let’s be clear that we are not popping the champagne corks just yet. As we have stressed throughout the recent upturn, this recovery has been from a historically low base. The UK still has a chronic shortage of new homes, with an unprecedented number of young people still living at home and unable to get on the housing ladder. There is much work still to do, but the UK’s housebuilding industry is up for the challenge.”

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