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.

According to the NHBC,  figures also demonstrate encouraging signs of a revival in the public and affordable housing sector, with an 8 per cent increase in new home registrations in May compared to a year ago, optimism among British construction firms hit a nine-year high in May.

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.’

Allen Walkey

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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