House Building On The Up
Private sector housing registrations for May have hit their highest level since 2008 and the start of the economic downturn, according to new figures from the National House-Building Council (NHBC).
In May 9,617 new homes were registered in the private sector, the highest monthly figure since 10,465 were registered more than five years ago in February 2008. 4,297 were registered in the public sector during the month.
In total 36,487 new homes were registered for the period from March to May 2013, compared to 27,125 for the same period last year, representing an increase of 35%.
Commenting on the latest statistics, NHBC commercial director, Richard Tamayo, said: “May’s registration figures build upon the solid volume growth seen over the last six months with the private sector providing a particular impressive showing, with a level of monthly activity not seen since 2008.
“The latest figures can be seen as proof of how various government initiatives, such as the Help To Buy scheme, are working in delivering more new homes across the industry and evidence of increasing confidence returning to the home building industry.
“Although we have seen encouraging signs so far this year for UK housing registrations, the overall level remains below what the country requires and activity remains slower than before the economic downturn.”
“Things may still be slow but at least there is a sign that they may be picking up” says Greengates Builders Merchants Accrington, Lancashire.