New home registrations soar 40%

The National House Building Council (NHBC) reported a significant 40% increase in new home registrations in the third quarter of 2024, with 28,724 homes registered compared to 20,449 in the same period last year. Steve Wood, chief executive at NHBC, commented: “Our latest quarter's figures show that new home registrations are holding steady with some signs of increased activity on site and an emerging mood of cautious optimism amongst house builders.” However, he emphasised the need for a further uplift to meet the government's target of 1.5m new homes, which relies on easing interest rates and boosting consumer confidence. While private sector registrations rose by 58%, the rental and affordable sector saw only a modest 12% increase. The NHBC's figures also revealed a 9% decline in completed homes, with 27,868 new homes finished in the same quarter. 

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