UK house-building pipeline continues to grow - NHBC
More than 15,000 new homes were registered to be built in the UK in November, data from the National House Building Council shows.
The NHBC said a total of 15,155 new homes were registered this month, a 2% rise year-on-year and the second-highest monthly total so far this year. Of those, 11,135 were in the private sector and 4,020 were affordable homes.
Nine of the UK’s 12 regions showed growth, led by Yorkshire & Humberside, which recorded a 43% rise compared to November 2017. London recorded a 16% decline.
In the rolling quarter from September to November, 43,745 new homes were registered, a 7% rise, of which 33,104 were in the private sector and 10,641 in the affordable sector.
Steve Wood, chief executive of NHBC, said: “As we reach the end of the year, it is reassuring to see continued strong new home registration numbers, with growth across the majority of the UK.”
The house building sector has been criticised for not building sufficient homes to meet demand; a shortage of new properties has helped keep house prices high and left many unable to buy. Schemes such as Help to Buy, introduced by then Chancellor George Osborne, have been widely criticised for fuelling demand and boosting house builders' profits without addressing underlying supply issues.
On Wednesday, the ONS said that average UK house prices had risen by 2.7% in the year to October, down from 3% in September.
Earlier this year the Prime Minister Theresa May announced up a shake-up of planning rules to encourage more new homes to be built, but demand still far outstrips supply.
Registrations refer to a builder registering a plot or new home with the NHBC that is scheduled to be built within the coming months. Figures are therefore liable to changes month-on-month because of cancellations and other issues with individual builds.