EU uncertainty takes its toll on new home registrations

New home registrations were down eight per cent in the rolling quarter (June – August 2016), a period which coincided with the EU Referendum.

First the bad news. According to the latest NHBC statistics there were 36,869 new home registrations in the rolling quarter, compared to 40,123 in the same period last year, a decrease of eight per cent.

However, the good news is that during these months several UK regions experienced a notable growth in registrations, compared to 2015, including the North East (+54%), Yorkshire & Humberside (+31%) and the South West (+23%).

The better news is that almost 12,500 new homes were registered to be built in the UK in August, an increase of 20% compared to the same month last year. A total of 12,486 new homes (9,225 private sector; 3,261 public sector) were registered in August, compared to 10,391 (8,385 private sector; 2,006 public sector) 12 months ago.

“August’s registration statistics show that the number of new homes being registered is considerably up compared to the same time last year,” said NHBC Chief Executive Mike Quinton said. “While overall rolling quarter numbers are down eight per cent, this came during an unprecedented period of uncertainty immediately after the EU Referendum.

“Despite this over half of the UK regions experienced growth in registrations compared to the same three month period last year.”

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