New home applications still below last year's levels

Published:  28 September, 2012

UK: Latest year-to-date figures for new home registrations in the UK reveal that housebuilding levels continue to fall, according to a report from NHBC.

In August 2012, the number of new homes registered with NHBC dropped to 9553, 4% below August last year (9978) and taking overall year-to-date totals for 2012 to 72 740 applications; a 15% decrease on the same period in 2011 (85,120).

Commenting on the latest figures, Richard Tamayo, NHBC's commercial director said: "Viewing new home registration figures in absolute terms underlines the real scale of the challenge facing the whole housebuilding industry at the moment.

"Just this month, the Government announced a series of measures aimed at supporting the housebuilding industry in its capacity as a key driver for economic growth. These measures are certainly needed, but their success will only be realised through a concerted effort by the industry and government to ensure they are taken forward.

"The ongoing undersupply of new housing means that the UK is missing out on a potential source of much needed economic growth. This needs to be addressed."

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