New home supply slows

NHBC’s Q3 figures show the number of new homes registered to be built in the UK during the last three months is 9% down on last year’s levels, despite a significant increase in the affordable and rental sector.

In total 39,364 new homes were registered over the last three months compared to 43,403 a year ago.

In the private sector 27,916 homes were registered, 16% down on the 33,110 12 months ago. Continuing the trend over recent months, the affordable and rental sector (which includes shared ownership and homes built for private, social or affordable rent) increased by 11% from 10,293 to 11,448 compared to 2018.

During Q3 there were increases in three out of 12 UK regions, with the West Midlands reporting a 52% increase in registrations from 3,136 to 4,760, a result of 1,200 plots registered in Birmingham for the 2022 Commonwealth Games Athletes’ Village.

Commenting on the latest figures, NHBC Chief Executive Steve Wood said: “It is great to see the strength of the affordable and rental sectors, whilst we would hope that the slowdown in private sector registrations is transient, and a function of short-term Brexit uncertainties.

“In any event, NHBC will continue to work with builders to raise standards and improve quality for homeowners.”