UK new home growth continues to soar in 2013

Published:  27 October, 2013

There has been a 19% increase in the number of new homes being registered in Q3 of 2013, compared to the same period in 2012, according to the latest figures from the National House Building Council (NHBC).

There has been a 19% increase in the number of new homes being registered in Q3 of 2013, compared to the same period in 2012, according to the latest figures from the National House Building Council (NHBC).

In total 33,573 new homes were registered between July and September, compared to 28,151 in Q3 last year.

The private sector fuelled the growth with a 23% increase, rising from 20,328 registrations in 2012 to almost 25,000. Meanwhile, the public sector experienced a 10% rise over the same period, growing to 8,589 registrations from 7,823 in 2012.

NHBC is also releasing new figures which show that nearly a quarter of people buying new NHBC-registered homes in the UK are now aged 55 or over. The statistics show the proportion of new homes sold to the over 55s has increased by a third from 17% in 2008, to 23% so far this year.

Unsurprisingly the proportion of younger people buying new homes has decreased, with the largest proportional drop in the under-25 bracket. This figure dropped by a quarter from over 8% in 2008 to just under 6% this year.

NHBC commercial director Richard Tamayo said: "Our latest figures show a sustained broad-based recovery in the UK new housing market from an extremely low base. There is little doubt that government schemes such as the Help to Buy initiative have significantly contributed to the growth seen throughout the course of this year.

"Looking ahead we are hopeful of a steady increase in registrations for the public sector as the National Affordable Housing Programme continues and are confident that year-end figures for overall 2013 housing levels will be the highest since the economic downturn began."

Commenting on the increase in over 55s buying new homes, Mr Tamayo added: “There are interesting signs of a demographic shift in the types of people who are buying new build properties in the UK. New homes are a particularly attractive option for the older generation as they are cheaper to run, easier to maintain, safer and provide protection through an NHBC warranty."

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