April new home starts up 21% as London soars

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New homes registrations jumped by a just over a fifth in April compared to the same time last year.

A resurgent London lifted UK figures with registration up nearly two thirds in the capital.

According to the latest figures from NHBC, 13,527 new homes were registered to be built in the UK during April.

Seven of the 12 UK regions saw an increase, with London seeing another considerable rise in registrations – up 61% (5,475 in 2019 v 3,397 in 2018).

This was driven by growth in the numbers of larger developments and an increased appetite in the private rental sector.

NHBC Registrations

 

Feb 19 – April 19

Feb 18 – April 18

% change

North East

1,312

1,470

-11

North West & Merseyside

4,710

4,403

7

Yorks & Humbs

2,518

2,571

-2

West Midlands

3,275

2,868

14

East Midlands

2,621

2,868

-9

Eastern

3,661

4,671

-22

South West

3,570

3,025

18

London

5,475

3,397

61

South East

6,031

5,611

7

Total England

33,173

30,884

7

Scotland

3,038

2,987

2

Wales

1,375

1,249

10

Northern Ireland

910

922

-1

TOTAL UK

38,496

36,042

7

In addition, the strong level of growth compared to April last year is partly due to the impact of the freezing weather in Spring 2018.Over the rolling quarter, 38,496 new homes were registered to be built compared to 36,042 in the same February – April period last year.

The private sector was up 4% (27,881 in 2019 v 26,754 in 2018), with the affordable and rental sector up 14% (10,615 in 2019 v 9,288 in 2018).

NHBC Chief Executive Steve Wood said: “It is great to see another strong month for new home registrations.  To date, there is little evidence that Brexit uncertainties are denting developer confidence, whilst the continued flow of inward investment into the private rental sector is another good sign of resilience.”

This article was first seen on https://www.constructionenquirer.com/2019/05/29/april-new-home-starts-up-21-as-london-soars/

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