Slow start of 2016 in housebuilding according to NHBC report

The number of new home registrations have fallen by 9 per cent in January 2016, show to the latest NHBC figures.

Just 10,309 homes have been registered to be built in January 2016 compared to 11,346 in January last year.

The figures come after NHBC reported a 7 per cent year on year increase in the number of new home registrations in 2015. In January 2016 a total of 7,885 private sector and 2,424 public sector homes were registered compared to 8,784 private sector and 2,562 public sector homes in January 2015.

In the rolling quarter (November 2015 to January 2016) a total of 32,468 new homes were registered, compared to 35,732 in the same period 12 months ago, a fall of 9 per cent.

NHBC figures also show a 10 per cent  increase in the number of new home completions in the rolling quarter (November 2015 to January 2016). Completions increased to 33,182 from 30,155 in the same period 12 months ago, reflecting the strong registration growth seen during 2015.

As the leading warranty and insurance provider for new homes in the UK, NHBC’s registration statistics are a lead indicator of UK house-building activity. For 80 years, NHBC has been committed to driving up quality and raising standards in housebuilding and has approximately 80 per cent market share.

Commenting on the latest figures, NHBC Chief Executive Mike Quinton said:

“We saw continued growth in new home registrations throughout 2015. Whilst the January figures indicate a slower start to 2016, industry confidence remains high, with last year’s growth reflected in the increase in new home completions in the past three months.

“There’s no doubt that house builders are extremely active and are optimistic about future growth. With many ambitious build programs underway, it is clear the industry is committed to delivering the high quality new homes the country needs.”