New data released by NHBC indicates that over 150,000 new homes were registered during 2016 in the UK. This was the second highest figure in nearly a decade.
The figures show that 151,687 new homes were registered by NHBC in the last year-a slight fall of 2% from 2015. However, last year’s figures were 70% greater than the levels seen in 2008/09-the heart of the financial crash.
In total, 115,689 new properties were registered in the private sector, in comparison to the 35,998 seen in the affordable sector. These figures are compared to the 117,506 and 37,998 seen in 2015.
These figures are seemingly good news for investors looking to take out a landlord insurance policy on a property.
By region, NHBC’s latest data showed that seven in twelve regions saw a rise in registrations. The biggest rises were seen in Yorkshire and the Humberside (+27%), South East (+14%) and the North West (+12%).
Excluding London, the overall UK total of new homes shows a 4% increase on 2015’s figures.
In addition, the number of new homes completed during 2016 stood at 141,175, slightly up on the 140,407 seen last year.
For house types, 2016 saw the highest number of detached homes registered in the UK since 2004, with 46,118. What’s more, the greatest number of semi-detached homes were registered since records began 30 years ago.
Mark Jones, NHBC Business Development Director said: ‘Taking into account the extraordinary events of 2016, the UK house-building sector has remained resilient, despite initial caution around Brexit. We have also seen some strong regional growth outside of London.’
‘Both industry and consumer confidence remains high and early signs indicate that the new year has begun positively,’ he added.