The number of new home registrations between July and September 2014 was 36,343, the highest number since 2007, according to figures from the National House Building Council. 28,468 of these registrations were in the private sector, and 7,875 in the public sector. This represents a 14% increase in the number of private sector registrations versus the Q3 2013 figures, but an 8% fall in public sector registrations.
The largest regional increases in home registrations were in Northern Ireland and Wales. In Northern Ireland, home registrations increased by 71% against last year’s figures, while Wales saw 63% growth. It is, however, worth noting that these figures were from very low bases. The only regional decreases were in the East Midlands, the South West and the South East.
The figures are encouraging for several reasons. First: the industry has long had concerns that growth was concentrated in London and the South East, with the region seeing significantly lower demand for homes. However, this report suggests that it is these regions that are cooling off while other parts of the country enjoy periods of increased demand. Second: the first half of this year saw a slowdown in demand, but the new figures are more positive.
Mike Quinton, Chief Executive of the National House Building Council, suggests that these results must be backed up by an increase in supply: ‘the UK still has a chronic shortage of new homes. [...]All the main political parties regard housing as an on-going key issue, reinforcing the fact that the country urgently needs more high quality and affordable new homes.’
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