Property

New home registrations hit 14-year high

Property Reporter
|
21st July 2021
new build 789

During the second quarter of 2021, new home registrations hit a 14-year high, as the housebuilding industry rebounded from the nationwide shutdown during the pandemic and reacted to increased demand for new homes.

According to the NHBC, data for Q2 2021 showed that 46,452 homes were registered during the quarter, the strongest figure since Q3 2007. NHBC noted the “extraordinary growth” against Q2 2020, during which many sites were shut in response to the initial lockdown. Against this time, registrations were up 130% and new home completions climbed 213% to 34,644 homes.

Of the total registrations, there were 35,495 for the private sector, up 227% against Q2 2020. Those for the rental sector (including both affordable and Build to Rent) increased 17% to 10,957.

Registrations were up in all UK regions in Q2 2021 against last year’s equivalent period. The North East, Scotland, Northern Ireland & the Isle of Man and the North West saw the highest climbs, at 436%, 417%, 230% and 212% respectively.

And detached homes saw the strongest growth in registrations during the latest quarter, increasing 280% against Q2 2020 to 15,790. Registrations for semi-detached homes rose 175% to 14,022, while apartments experienced much slower growth at 21% to 9,447.

In Q1 2021, registrations climbed 10% to 36,863 new homes against Q1 2020.

Steve Wood, NHBC’s CEO, said: “Our latest quarter’s registration statistics show the remarkable recovery the housebuilding industry has made since activity ground to a halt on site in April and May last year. A 14-year-high in new home registrations is quite something in the present environment.

“Despite the combined effects of the pandemic and Brexit causing labour shortages and some disruption to the supply of materials, the outlook for the medium term is a positive one. Demand for homeownership is holding strong alongside significant investor interest in the growing build to rent and retirement living sectors.”

Related articles
More from Property
Latest from Financial Reporter
Latest from Commercial Reporter
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.