You are viewing 1 of your 1 free articles
15% drop in new homes registered post-referendum
Huge falls in London contributed to a 15% drop in new homes registered across the UK after the EU referendum, new figures show.
Figures released today by the National House Building Council (NHBC) reveal 28,420 registrations by private builders and 8,824 by councils and housing associations between May and July.
This is a drop of 13% and 22% respectively on the same period last year, providing the first evidence of an impact on housebuilding as a result of the referendum.
Mike Quinton, chief executive of the NHBC, said: “This fall in numbers can largely be attributed to the industry caution experienced immediately after the EU referendum.
“Early indications show new home registrations are already bouncing back, with August figures on course to top 2015.”
Homes are registered with the NHBC several months before they start on site, meaning the figures give the earliest indication of trends in the housing market.
New homes registered fell most steeply in London, which saw a 62% year-on-year drop down to 3,554 from 9,321 for the same period last year.
This fall made London, usually the runaway leader, sixth on the list of English regions for homes registered, behind the South East, South West, East, East Midlands and North West.
This contributed to an overall 15% drop in England with Scotland also slipping 13%, Wales 19% and Northern Ireland 8%.
Public sector housebuilding, which is the categorisation the NHBC uses for councils and housing associations, fell in all but three regions in the UK.
In London, it dropped 52% from 2,207 to 1,049 and in the West Midlands it dropped 49% to 722.
New homes registered by private builders plummeted 65% in the capital from 7,114 to 2,505, with small falls in the South East and West Midlands but growth in every other region.
