Government schemes help boost new house-building figures

Published on Thursday, 28 March 2013 12:10
Posted by Vicki Mitchem

The number of affordable homes being registered has soared by nearly 120%, according to new figures released by NHBC.

In February 2013 the number of affordable homes housebuilders registered increased from 1,373 in February 2012 to almost 3,000 last month.

The figures show that the UK house-building industry in general has also enjoyed a good start to 2013 with all new home registrations up nearly 24 per cent in February compared to the same time last year.

NHBC's monthly statistics show that 10,538 new homes were registered around the country in February 2013 compared with 8,512 in February 2012.

The main driver has been the Government's £2.2billion Affordable Homes Programme which aims to deliver 170,000 new homes by April 2015. But the figures also show that current Government schemes such as NewBuy and Funding for Lending are finally helping to boost new house building.

NHBC has welcomed the recent measures in the Budget to provide an additional £225 million to support a further 15,000 affordable homes which the country desperately needs by 2015.

Comparing the rolling quarter, the most recent figures up to and including February 2013 show a 21% increase in total registrations (December '12 – February '13: 26,004) compared to the same three month period the previous year (December '11 – February '12: 21,422).

NHBC Commercial Director Richard Tamayo said: "The big rise in new homes being registered – particularly affordable homes – is very encouraging news for Britain's housebuilding industry which has been through a very difficult time in recent years.

'The dramatic rise in affordable homes is good news for first time buyers and social housing tenants. However, it is important that quality is not compromised in the rush to build these new houses before the Government's April 2015 deadline.

'These figures, combined with the boost for housing announced in the Budget, are a welcome shot in the arm for builders up and down the country.

Source: NHBC

The views expressed in the contents below are those of our users and do not necessarily reflect the views of GovToday.

Add comment