New homes registrations jump 19% in third quarter

Aaron Morby 11 years ago

The recovery in house building is gathering pace fuelled by rising demand for new homes from grey-haired buyers, according to latest figures from NHBC.

The number of new homes registered in the UK jumped 19% to 33,573 between July and September compared to the same time last year.

Private house building fuelled the growth in new homes in the third quarter with a 23% increase to almost 25,000. At the same time the public sector also showed it was stirring again with a 10% rise to 8,589 new homes

The NHBC also released new figures that showed nearly a quarter of people buying new NHBC-registered homes in the UK are now aged 55 or over.

The statistics show the proportion of new homes sold to the over 55s has increased by a third from 17% to 23% over the last five years. In 2008, around 17% of buyers of NHBC registered homes were aged over 55. But so far this year, the proportion has increased to 23%.

At the other end of the age profile, the proportion of younger people buying new homes has decreased, with the largest proportional drop in the under 25 bracket.

This figure dropped by a quarter from over 8 per cent in 2008 to just under six per cent this year.

NHBC Commercial Director Richard Tamayo said: “Our latest figures show a sustained broad-based recovery in the UK new housing market from an extremely low base.

“There is little doubt that Government schemes, such as the Help to Buy initiative, have significantly contributed to the growth seen throughout the course of this year.

“Looking ahead we are hopeful of a steady increase in registrations for the public sector as the National Affordable Housing Programme continues and are confident that year-end figures for overall 2013 housing levels will be the highest since the economic downturn began.”

Tamayo added: “There are interesting signs of a demographic shift in the types of people who are buying new build properties in the UK. Our figures show that the proportion of over 55s purchasing these properties has increased to nearly a quarter while the numbers of young people buying new homes has decreased slightly.

“New homes are a particularly attractive option for the older generation as they are cheaper to run, easier to maintain, safer and provide protection through an NHBC warranty.”

NHBC third quarter regional new home registrations


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