New home registrations continue to increase

According to figures released by NHBC, the number of new homes registered in the UK in February grew by 25% compared to the same month last year.

11,734 new homes (9,209 private sector; 2,525 public sector) were registered in February, compared to 9,390 a year ago, although this was 2014’s poorest month in terms of new home registrations.

For the rolling quarter (Dec 2014 – Feb 2015), 36,505 new homes were registered compared to 29,681 for the same period last year, an increase of 23%. The private sector recorded 28,139 registrations compared to 21,373 (+32%) a year ago with the public sector showing a marginal one per cent increase with 8,366 new homes compared to 8,308 for this quarter.

As the leading warranty and insurance provider for new homes in the UK, NHBC’s monthly registration statistics are a leading indicator of the health of the country’s new homes market.

NHBC Chief Executive Mike Quinton said: "We are very pleased that the growth we saw throughout last year has continued into 2015, with our latest figures clearly showing that registrations are up on 2014 levels for the last three months, which is great news for the industry.

However, we have been clear that we are building way below the level of homes that our country so desperately needs, therefore it is important that we keep up this momentum.