House building surges to ten-year high in first quarter
The number of new homes being built in the UK in the first three months of 2017 was the highest quarterly figure in a decade, according to the National House Building Council (NHBC).
27 April 2017
All nations and regions within the UK registered increases in the number of new homes in the first quarter of 2017. Some 42,470 starts were recorded, representing a 17 per cent increase on the same period in 2016.The figures will come as welcome news to the government, which is trying to kick start the construction industry at a time of a mounting housing shortage in most parts of the country.According to the NHBC figures, there were 31,197 private sector registrations in the quarter – up 10 per cent on last year – and 11,273 affordable sector registrations, a 40 per cent rise on 2016.
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Encouraging news
Neil Jefferson, NHBC’s managing director, said, “These figures, with growth across the entire country, are clearly encouraging for the sector, at a time when there is considerable demand for new, high-quality homes.“This growth in registrations, in both the private and affordable sector, is welcome news and will result in more newly built homes across the UK over the coming months.”NE England saw the strongest quarterly growth compared to a year ago, with a 39 per cent rise, while the number of new-builds being registered in London saw a 38 per cent increase.The NHBC’s figures are based on registrations from builders who are responsible for more than three-quarters of homes constructed in the UK. Builders who are members of the NHBC, a warranty and insurance provider, are required to register new builds before starting work.NHBC said that in the 2016/17 financial year, 157,898 new homes were registered across the UK, representing a 4 per cent increase on 2015/16.Related news:
- Rightmove sees house asking prices reach new high
- Sales of £1 million apartments surge to new high in London
- UK property market lacking impetus, surveyors report
Too many empty local authority houses
In a separate report, figures obtained under the Freedom of Information Act by property website eMoov.co.uk showed there were more than 23,000 empty houses owned by local authorities across in the UK – an average of 87 per council.Russell Quick, founder and chief executive of eMoov, said, “It’s quite frankly scandalous that, in the current market climate, those in charge of addressing the severe housing shortage are actually sitting on a potential solution, or at least part of it.“We’ve seen numerous plans and announcements by the government to tackle the housing crisis and help the average UK homebuyer in previous years, all of which have amounted to little more than regurgitated rhetoric. “It would seem that parties across the entire political spectrum need to get their own house in order first and utilise the resources already at their fingertips, rather than investing in another failed housing initiative.“It is certainly a worrying sign for UK buyers when Labour, the party that is supposed to be the one for people, is by far the worst offender in hoarding vacant council-owned properties.”Follow the links for more Residential property news and features.
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