The North West is pitched into a housing boom after new figures revealed that new housing registrations in the region have now outstripped London.

Latest NHBC figures for new homes to be built in the 2017/18 financial year reveal that registrations shot up 21% in the north west to just over 18,000, while London saw registration plunge 23% to just below 15,000.

The region has strongly benefited from growth in private flats and build to rent schemes, particularly in Manchester.

London’s fall was entirely down to private new build, which slumped from 12,000 in 2017/16 to around 8,000 this last year. Affordable new homes registrations were stable at around 6,600 units.

London registrations are now broadly in line the west Midlands, east Midlands and south west.

Across the country registrations dipped 2% from 2016/17’s record high for the decade of 157,805. Six out of 12 of the UK regions still maintained growth with the Midlands and North West surging as the south and east of England slid .

With growth in the first three quarters of FY 2017/18, compared to the previous year, 116,451 new homes were registered in the private sector (compared to 117,987 in 2016/17) and 38,247 homes were registered in the affordable sector (compared to 39,818 in 2016/17).

NHBC registrations
Region Total  % change YOY Private   Affordable
North East 6,466   -2% 5,826 640
North West 18,272   21% 15,206 3,066
Yorkshire & Humberside 9,331   -10% 7,498 1,833
West Midlands 14,587    9% 10,390 4,197
East Midlands 14,314    12% 10,653 3,661
Eastern 16,448   -3% 12,190 4,258
South West 14,122   -15% 10,055 4,067
London 14,795   -23% 8,183 6,612
South East 25,475   -5% 18,700 6,775
England 133,810   -3% 98,701 35,109
Scotland 11,891    1% 10,780 1,111
Wales 5,384    11% 3,951 1,433
Northern Ireland (incl. Isle of Man) 3,613    7% 3,019 594
United Kingdom 154,698   -2% 116,451 38,247

 

Latest figures revealed a slower start to 2018, with 14% fewer new homes registered in the first three months of the year, compared the same period last year.

Anecdotal reports from some house builders suggest that up to 30 days were lost on site in the first quarter of the year as a direct result of the arctic conditions.

NHBC Chief Executive Steve Wood said: “New home registration figures for the last financial year have reached the second highest level in a decade, despite a challenging start to 2018, with freezing weather conditions affecting building sites up and down the country.

“Business confidence in both the private and affordable sectors remains high with clear routes to continued growth in 2018, and NHBC will continue to help support house builders to build the high quality new homes that people across the UK need.”

 

Source: Construction Enquirer

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