New home registrations at 5yr high

The number of new homes registered with NHBC in the UK during the first quarter of this year has reached 31,739, the highest level for this period since 2008.

The figure represents a significant overall 22% increase on last year, when 25,998 new homes were registered in the first quarter 2012.

The rise has been fuelled by a 43% year on year increase in public sector registrations. The main driver for this rise has been the Government's £2.2bn Affordable Homes Programme which aims to deliver 170,000 new homes by April 2015.

Richard Tamayo, NHBC commercial director said: "New home registrations in the UK have reached a five year high for quarter 1 rising 22% on the comparative period, boosted by a very strong performance in the Greater London area.

"This rise in new homes being registered, particularly affordable homes, is very encouraging news for Britain's house-building industry which has been through a very difficult time in recent years.

These figures may be an indication that much-needed confidence is returning to the industry, although they should be viewed in the context of overall new homes volumes remaining significantly below historic levels."

The NHBC statistics also reveal an enormous 61% increase in new houses being registered in London in the first quarter of 2013 compared to first quarter last year.

Peter Lawrence at Lawrence Rand said: “It is encouraging to see new home registrations increasing as there is a huge shortfall of property being constructed in comparison to demand.”