Housing boom helps to build the recovery and create new jobs

Housing boom helps to build the recovery and create new jobsThe number of new homes registered in London last year was the highest since electronic records began over 26 years ago – new figures from NHBC have revealed.

In total 26,230 new homes were fully built and registered in London last year, a 60% increase on 2012 figures (16,364).

Overall, annual figures for new home registrations in the UK increased by 28% in 2013, compared to the previous year. This is the highest number of registrations (133,670) since the economic downturn in 2007.

Reacting to the latest survey, Stewart Baseley Executive Chairman of the Home Builders Association said: “A 28% increase in new home registrations is a huge leap and demonstrates the acceleration in house building activity.

“The Help to Buy Equity loan scheme is driving demand and builders are responding quickly by increasing output.

“Considering Help to Buy only launched in April in England, September in Scotland and not until this year in Wales, 28% is a significant increase in supply for 2013.

“If people can buy, builders can build, so creating tens of thousands of jobs on construction sites and in the supply chain.”

Commenting on the annual statistics, NHBC Chief Executive Mike Quinton said: “Looking back at 2013 it is very clear that it has been the best in a number of years for the sector as a whole, across the entire country.

“Over the year, we have seen a genuine return of confidence to the industry as builders strive to meet the growing demand for new homes that the UK clearly needs. Government initiatives such as Help to Buy have also contributed to registrations increasing at their fastest rate since the downturn.

“According to our records, London enjoyed its highest ever annual total of new home registrations. This can be attributed to prime sites, such as Nine Elms, now being redeveloped largely for residential use, an increase from overseas investment into the market and the capital’s continued appeal as a property hotspot.”

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