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Developers are building the highest number of new build detached homes for a decade – more than during the peak of the property boom in 2007 – according to NHBC’s latest registration figures.
Last year saw a sharp 24% increase in the numbers of detached houses registered with NHBC from 30,849 in 2013 to 38,113 in 2014 with growth particularly marked in the regions.
Overall 9% increase in new homes registered with NHBC
The renewed vigour in the detached market comes as NHBC reported a 9% increase in the overall volumes of homes registered from 133,670 in 2013 to 145,174 in 2014. The final quarter of the year was particularly strong (38,157), with an increase in registrations of 17% on Q 4 2013 (32,675).
Strong growth in the regions
Significantly, the regions enjoyed a particularly strong year for housing growth with areas such as Yorkshire and Humber (+24%) and the West Midlands (+16%) seeing big increases. Across the UK, Wales (+33%), Scotland (+9%) and Northern Ireland (+17%) all saw registrations out-stripping last year’s volumes.
After the exceptional growth in 2013, London has returned to growth levels in line with the UK as a whole and several regions have outperformed London in rates of growth. The capital, which has historically been the main driver of housing growth in the UK, recorded a 10% increase in new housing registrations from last year¿s record figure of 26,230 to 28,733 in 2014.
Private sector outperforming public sector
Overall, the private sector recorded a 13% increase on last year with 110,403 new homes registered compared to 97,399 the previous year. Public sector volumes were down slightly by 4% from 36,271 in 2013 to 34,771 in 2014, which may be a result of changes in funding through the Affordable Homes Programme.
Numbers of semi-detached and flats also grow
While there was a significant increase in detached homes, NHBC figures also show there were 31,650 semi-detached homes registered last year – an increase of 12% on 2013.
In contrast, the number of flats increased by just 5% with 48,685 registered last year – just over half the number registered at its peak volume in 2007 (90,221). Meanwhile, there was a two per cent drop in terraced homes registered (26,600) and a 16% drop in bungalows registered (2,059).
As the leading warranty and insurance provider for new homes in the UK, NHBC’S monthly registration statistics are a leading indicator of the health of the country’s new homes market. Read more statistics…
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