New house building back to pre crash levels

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New homes registrations have hit a seven year high according to figures published by the NHBC.

The figures show  registrations in the third quarter jumped 8% year-on-year and were 3% up on the previous quarter and represented the strongest third quarter since 2007, and the highest number of registrations seen so far this year.

In addition to that new private homes registrations shot up 14% to 28,468, while public sector homes fell 8% to 7,875 compared to the same period a year ago.

The NHBC put the public sector fall down to a hiatus between Affordable Housing Programe funding which has not been supported by the relevant agencies

NHBC chief Mike Quinton commented : “We are very encouraged to see that house building is again beginning to show signs of accelerated growth across the UK.

“Following the dramatic growth in 2013, we saw a period of consolidation in the first half of this year, but our latest data would suggest that the pace of growth is picking up again.”

He continued: “Our figures show that the sharp housing upturn we have seen over the last couple of years is a genuine broad-based recovery across the whole of the country, with pockets of strong growth in the North East, Yorkshire & Humberside and West Midlands.

“It is now increasingly apparent that housing growth is no longer London and South-East centric, with these regions beginning to show signs of cooling.

“However we must not lose sight of the fact that the UK still has a chronic shortage of new homes.

“We have seen over recent weeks that all the main political parties regard housing as an ongoing key issue, reinforcing the fact that the country urgently needs more high quality and affordable new homes.”