February sees private registrations drop further

The latest data released by NHBC has revealed that private registrations in February dropped almost 17% against the same month in 2018 as Brexit uncertainty continues to impact the market.

Related topics:  Property
Warren Lewis
1st April 2019
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NHBC found that the number of new homes registered in the private sector during the month totalled 7,550, a decrease of 16.8%. Meanwhile, affordable home registrations in February rose 27% year-on-year to 3,171. The fall in private registrations meant that overall registrations slid 7% during the month to 10,721.

During the rolling quarter of December to February, private registrations fell 13% to 23,105 new homes against the equivalent period in 2017/18. Contrastingly, registrations for affordable homes climbed 36% to 11,094. Overall registrations fell 2% to 34,199.

NHBC said that despite this slight decrease, half of the 12 UK regions saw some growth in registrations during the December to February period, including in London (+17%), the North West (+11%) and the South East (+9%).

London was also one of only three regions to experience growth in private registrations during the period, at +11%. Those in Yorkshire and Humberside also rose 11% whilst Northern Ireland saw a 46% increase. In all other regions decreases ranged from -5% (North West and Merseyside) to -31% (East Midlands).

Steve Wood, NHBC’s ceo, said: “Continuing the trend from January we are seeing strong numbers in the affordable sector but an understandable drop in the private sector amid the ongoing Brexit uncertainty.

Regardless of what happens, NHBC will continue to ensure that quality remains at the heart of what we do for home owners whilst maintaining our support for UK housebuilders and developers.”

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