New builds reach an 8-year high
The NHBC have confirmed that the number of new homes being built, grew in 9 out of 12 regions across the UK, making this a 7% increase in 2015
156,140 new homes were registered in the UK last year – that’s 75% more than during the 2009 housing collapse, when just 88,993 new homes were built.
Investigation painted a pretty picture for most of the UK. Most regions saw an improvement in new housing registrations, with Northern Ireland, East and North West England growing by 30%, 23% and 16% correspondingly,
Confidence in new homes is resuming following the last downturn, when many developments funding ceased and were left incomplete. The government schemes that have also been introduced, “Help to Buy” and “Starter Homes”, has also supported the improvement. This is good news for buyers who will profit from a broader range of properties.
Young purchasers are also being enticed back to the market, advises the NHBC. 39% of new home buyers are 34 years old and under, this is a 6% rise than in 2014 but unfortunately the numbers of buyers aged between 35 and 54 dipped.
The capital still excelled in the table for the greatest number of new home registrations in the UK last year. Even though this activity in London was down 9% on 2014, it was still the third highest number of registrations on record.
The new-build market has forged ahead since 2012 when registrations remained at 105,174 and the NHBC, the warranty provider for 80% of all new-build homes in the UK, suggests the growth in registrations will carry on this year.