London new home registrations hit highest level since records began
Published: 31 January, 2014
The number of new homes registered in London last year was the highest since electronic records began over 26 years ago, according to new figures from the National House-Building Council (NHBC).
In total, 26,230 new homes were registered in the capital last year – a 60% increase on 2012 figures. The figures also show a broad based sustained recovery across England, with all regions reporting an increase in housebuilding registrations from last year.
In summary, the NHBC’s annual statistics for 2013 reveal:
- There were 133,670 new UK homes registered last year, compared to 104,514 in 2012
- All English regions reported growth on 2012 figures
- The UK private sector was up 25% on 2012 (97,399 – 78,125)
- The UK public sector was up 37% on 2012 (36,271 – 26,389)
- Registrations in Scotland and Northern Ireland were also up on 2012
- There has been an increase in smaller builders joining the NHBC register (an average of 50 new builders a month joining the register between July and December 2013).
NHBC chief executive Mike Quinton said: “Looking back at 2013, it is very clear that it has been the best in a number of years for the sector as a whole, across the entire country. Over the year, we have seen a genuine return of confidence to the industry as builders strive to meet the growing demand for new homes that the UK clearly needs. Government initiatives such as Help to Buy have also contributed to registrations increasing at their fastest rate since the downturn.
“According to our records, London enjoyed its highest ever annual total of new home registrations. This can be attributed to prime sites, such as Nine Elms, now being redeveloped largely for residential use, an increase from overseas investment into the market, and the capital’s continued appeal as a property hotspot.
“However, let’s be clear that we are not popping the champagne corks just yet. As we have stressed throughout the recent upturn, this recovery has been from a historically low base. The UK still has a chronic shortage of new homes, with an unprecedented number of young people still living at home and unable to get on the housing ladder. There is much work still to do, but the UK’s housebuilding industry is up for the challenge.”