Housebuilding levels return to pre-pandemic levels

New home completions have bounced back – as there were 40,289 in the second quarter of 2022.

This is a 16% increase on the second quarter of 2021, according to data from the National House Building Council (NHBC).

The quarter also saw an increase in the number of new home registrations - the process by which house builders register plots they intend to build with NHBC - to 66,855, up by 45%.

The NHBC said the uplift is in part due to builders seeking to minimise the cost impact of energy efficiency regulations introduced in June.

Steve Wood, chief executive of the NHBC, said: “Our latest figures demonstrate that output from the new homes market has made a solid return to pre-pandemic levels.

“At this stage we are not seeing evidence that the cost-of-living crisis or risks of recession are affecting consumer demand, whilst registration levels reinforce continued confidence within the sector.”

11 out of 12 UK regions saw growth in the number of new home completions, with the largest increases in the North East (1,781 in Q2 2022 vs 1,284 in Q2 2021) and East Midlands (4,117 in Q2 2022 vs 3,071 in Q2 2021).

Only Wales saw a slight decrease (1,183 in Q2 2022 vs 1,189 in Q2 2021).

Growth in new home completions was driven by the private sector with 29,963 in Q2 2022, up 23% on Q2 2021.

New home completions in the affordable and build-to-rent sector were level with the same period last year at 10,326.

Leave a Reply