The number of new homes registered in May 2018 has increased slightly according to the monthly figures from NHBC.
Referring to the process of a builder registering a new plot/home to be built in the next few weeks or months that are covered by NHBC’s 10-year Buildmark warranty, the new home registrations figures help to indicate the level of housebuilding throughout the UK as a whole.
In May 2018, NHBC’s figures revealed that 14,753 new homes were registered to be built, which is up by 1% from the 14,662 registered for the same month in 2017.
The vast majority of the homes in this figure came in the private sector, where 11,126 new homes were registered – up from the 10,123 in May 2017.
For the affordable sector in May, there was a decline in new home registrations – the figure of 3,627 homes is dwarfed by the 4,539 from May 2017.
The registration of new homes was higher than the figures revealed in April 2018, which shows progression and is in line with the “strong” numbers from the same time in 2017.
However, when looking at the three months to May, the figures are down from the corresponding quarter of 2017.
Between March and May, 39,322 new homes were registered, which is some way down from 44,900 the year before.
For homes in the affordable and private sectors, both saw decreases in new home registrations; for the private sector, 29,049 were registered – down from 32,259 between March and May 2017.
In the affordable sector, 10,273 new homes were registered between March and May – a decrease of over 2,000 from the 12,641 in the same three months of 2017.
However, NHBC Chief Executive, Steve Wood, was encouraged by the new home registrations in the climate of “challenging” economic conditions.
He said: “Despite the challenging economic climate, it is encouraging to see that new home registrations for May were in line with the strong numbers we saw this time last year.
“As ever, NHBC will continue to support builders to deliver high quality new homes for the benefit of residents and buyers.”