New Home registrations plummet
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Home registrations plummet 24% in new figures released today compared to April to June last year.
For the first time this year, private housing registrations in June failed to match the previous year’s buoyant figures, causing an overall 10% fall over the second quarter, despite better April and May returns.
The sudden drop off in private starts is a blow to builders who have relied on modest growth offseting consistent monthly falls in public housing starts.
The second quarter was the most dismal yet for public housing, which tumbled 49%, compared to last year.
Richard Tamayo, NHBC Commercial Director said: “As the year progresses we must hope to see a rebound in social housing numbers as providers adapt to new methods of funding.
“Hopefully the decline in private registrations witnessed in June will, in hindsight, prove to be a statistical blip in what will otherwise be a period of sustained, if modest, private sector volume growth throughout the year.”
The number of new homes registered in June was just 8,328, 43% lower than the same month last year. Private sector homes fell 26% to 6,685, while public sector homes crashed 70% to 1,643.