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Housebuilding pipeline shows strong Q2 growth

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The number of planned new homes soared in the second quarter, new data shows

New home insurance provider NHBC has published statistics showing 43,600 residential units were registered with it in the three months to the end of July 2018.

The volume of registrations – a key stage between planning consent and start on site – was up from 38,978 in the quarter to June this year.

It was also 11 per cent higher than the corresponding period a year earlier, and the largest number for any three-month period this year.

July 2018 alone saw more than 15,800 forthcoming homes registered with the NHBC – a 35 per cent increase on the same month a year earlier.

NHBC chief executive Steve Wood said: ‘Following a slow start to the year due to the extreme weather, we have had promising new home figures in recent months, with July seeing a real uplift. Over the last three months we have had growth in new home registrations in eight out of 12 UK regions, with London leading the way.’

Research from the Chartered Institute of Procurement and Supply also found that housebuilding activity was growing.

However, the CIPS’s closely-watched Construction Purchasing Managers’ Index added that the rate of growth had slowed. Housing activity registered a seasonally-adjusted 54.2 in August, a sixth consecutive month of growth but down from 58.2 in July.

Separate data from economics unit Glenigan said that housing construction fell last month.

The Glenigan Residential Index – which discounts very large and super-small schemes – fell to 182 in August, down marginally from July 2018 and a 16 per cent dip from August 2017.

Meanwhile statistics published by the Ministry of Housing last week showed a drop in the volume of housing schemes granted planning permission.

District planning authorities approved 1,674 big residential projects in the first quarter of 2018. This was down 4 per cent on the same period a year earlier.

The number of minor residential proposals approved also fell by 4 per cent, this time to 10,178 – the lowest total for two years. The approval rate on small applications was just 73 per cent. 

 

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