The number of new homes registered in Q3 of 2018 was at a level not seen for 11 years, according to new figures released.
Increases in registrations during the period have been described as “dramatic” and “considerable” across a number of different regions of the UK.
Figures have been published by the National House Building Council (NHBC), which is the UK’s largest provider of new home warranties.
They reveal that UK builders registered 43,578 new homes during Q3 of 2018, which is 15% higher than the 37,940 registered in the same quarter of 2017, which counts the months of July to September.
It is significantly higher than the number of homes registered in Q2 2018, and the total makes it the best-performing quarter for new home registrations since Q3 in 2007, when almost 50,000 were registered.
Both the private and affordable homes sectors both outstripped the figures for the corresponding quarter of 2017.
For the private sector, 33,520 new homes were registered – 16% higher than the 28,921 recorded in Q3 2017; while for the affordable homes sector, 10,058 were registered in the last quarter, an increase of 12%.
Steve Wood, NHBC Chief Executive, said the figures reveal “strong demand” remains, but also warned what is needed to hit government housing targets.
He said: “The upturn in registrations over recent months is good news for the industry and shows that there remains a strong demand for high quality new homes in many parts of the UK.
“The increase in London is welcome, although it has been boosted by the number of large scale developments and has to be set against unusually low figures this time last year.
“On a broader front, the industry remains cautious in the short-run until the economic impact of Brexit is clearer.
“Attaining the government’s target of 300,000 new homes by the middle of the next decade will require a real focus on innovation, particularly the use of modern methods of construction, and on building skills and capacity in the workforce onsite, topics many builders are actively grappling with.”
In Q3 of 2018, London enjoyed a mammoth 141% increase in new home registrations, while Yorkshire & Humberside (39%), the South West (34%) and Scotland (20%) all enjoyed healthy increases.