Increase in new homes being built
According to Data from the National House Building Council 43,987 new properties were registered in the UK between March and May, a 15 per cent increase on the same time last year, this is a significant rise over the figures from last year.
The NHBC data appears to support Markit/CIPS figures on the construction sector out earlier this month, as well as strong mortgage approval data from the British Bankers’ Association out this week, the Markit/CIPS UK Construction Purchasing Managers’ Index rebounded to 55.9 in May from a 22-month low of 54.2 in April – with a reading of 50 separating growth from contraction.
Commenting on the latest statistics NHBC chief executive Mike Quinton reportedly said; ‘So far in 2015 we have seen new home registrations remain consistently ahead of 2014 levels, which is clearly encouraging news for the industry.
‘There have also been signs that the public and affordable sector is continuing to improve while the uncertainty predicted by some around the period of the General Election failed to materialise, with steady growth a constant feature throughout the year to date.’