The number of new home registrations are up 12 per cent in three months, reaching the highest level since 2007…
According to the latest figures the number of new homes registered reached the highest level for eight years.
The National House Building Council said 41,268 new properties were registered across Britain in the last three months. This represents the largest quarterly figure seen since the end of 2007.
The figures have been collated from builders who are responsible for around 80 per cent of home constructed, and are required to register properties with the NHBC before work can commence.
The north west and Merseyside saw a significant increase in the number of new home registration, growing by 74 per cent in the first half of 2015 compared to the year before. However, the capital saw a decline, with 16 per cent fewer properties registered in the first six months of 2015 compared to the same period in 2014.
Scotland also saw an increase in registration, growing by 26 per cent in the first half of 2015 when compared to the first six months of 2014. Wales saw a 37 per cent increase, while Northern Ireland saw growth of 53 per cent.
New registrations usually average around 150,000 to 155,000 a year. However, so far this year more than 81,000 registrations have taken place. If it continues to maintain its current pace it is expected to put the annual total for 2015 at more than 160,000.
Additionally, the figure could be higher as only 80 per cent of the market is covered by the NHBC. This could mean the actual number of new homes could hit closer to 200,000.
NHBC Chief Executive Mike Quinton said: “Our figures show that 2015 is shaping up to be an encouraging year for new housing growth with new housing registrations up 12 per cent on the second quarter of last year.
“However, we have made clear that while all signs of growth are to be welcomed, the UK is still building way below the volumes of homes that we need.
“There is a long way to go before our housing crisis is over.”