New home growth remained strong in October, according to the latest figures from the National House Building Council (NHBC).
It continues the buoyant trend that the housing sector has seen in recent months; for October, 14,579 new homes were registered.
This means new home growth has increased from the 13,482 recorded in October 2017 – a rise of 8%.
Breaking those figures down, it is positive to see that both the affordable housing and private housing sectors fare well, with rises in home registrations in both.
In the affordable housing sector – one that needs urgent attention nationwide – it is pleasing to see new home growth – the 3,482 registered for the month is 12% more than during October 2017.
For the private sector, 11,097 homes were registered – up from the 10,383 in the corresponding month of last year, equating to an increase of 7%.
NHBC’s Chief Executive is Steve Wood. He is pleased that the rise associated with the summer months has followed into autumn.
And despite uncertainty associated with Brexit, he is hopeful of a strong end to 2018.
He said: “Despite a slow start to the year because of the extreme weather conditions, it is very pleasing to report that the upturn in registrations we saw over the summer is continuing.
“Although there is some caution as we all wait to see what happens on Brexit, we are hopeful that this strong end to the year will be maintained, as the industry strives to build more new, high quality homes that the UK needs.”
The feelgood factor which was evident in the figures for the third quarter of 2018 has continued during the rolling quarter too; between August and October, more than 42,000 new homes were registered – an increase of 7%.
In that time, there were increases of 5% and 11% in the private and affordable sectors respectively.
Eight out of the 12 regions also experienced new home growth, with Yorkshire & Humberside, and London accounting for the largest increases.