Latest data, released by the National House Building Council (NHBC), for homes registered by builders responsible for building around 80% of new UK homes reveal that levels are at their highest for over a decade.
As the main UK insurance and warranty provider, the NHBC requires developers or builders to register houses before starting construction.
The total number of new properties registered between July and September 2018 is 43,578 – an increase of 15% year-on-year. This is the highest figure since 2007, prior to the global credit crunch, when the total of new properties reached 49,520.
Private sector new properties were up by 16% at 33,520 and in the affordable sector, the total of new homes recorded was 10,058 – an increase of 12%.
London came top of the UK regions recording growth, followed by Yorkshire and the Humber up by 39%, the South West reporting growth of 34% and Scotland was up by 20%.
Official figures illustrate that the housebuilding sector delivered over 217,000 new homes across England in the financial year 2016-17, proving that the industry has fully recovered from the lows tracked during the financial crisis.
NHBC’s chief executive, Steve Wood, said: “The industry remains cautious in the short-run until the economic impact of Brexit becomes clearer. However, the upturn in registrations over recent months is good news for the industry and shows that there remains a strong demand for high-quality new homes in many parts of the UK.”