Steady quarter for new homes boosted by October figures

According to the latest National House Building Council (NHBC) figures, new home registrations remain at a similar level to the same period one year ago.

In total, 37,582 new homes (30,046 private sector; 7,536 public sector) were registered between August and October compared to 37,707 (29,784 private sector; 7,923 public sector) in 2014.

In total 36,219 new homes were registered in the third quarter compared to 36,955 a year ago. The private sector is static at -1% (28,527; 28,906 in 2014), with the public sector down by 4% (7,692; 8,049 in 2014).

In October 16,434 new homes (12,965 private sector; 3,469 public sector) were registered, an increase of 17% on the same month last year (13,997 – 11,188 private sector; 2,809 public sector).  The substantial volumes seeing during October is due to builders registering new homes in time to take advantage of the lower rate of Insurance Premium Tax which increased by 3.5% on 1^st November.

Commenting on the new registration statistics, NHBC Chief Executive Mike Quinton said: “The last three months have seen new home registrations in line with the corresponding period a year ago. However we expect to be reporting growth for 2015 as a whole, as the first 10 months of 2015 show a 10% increase in registrations compared to the same period last year.”

NHBC supports the industry in maintaining and improving the build quality of new homes for buyers, whilst providing the benefit of its ten year Buildmark warranty protection.

The Buildmark warranty covers around 80% of new homes built in the UK, currently protecting around 1.6M homes.

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