The latest NHBC figures for the final quarter of the year have shown that registrations are up 3% on the figures for the same period in 2009, despite the heavy snowfall in December.
There is a return of optimism amongst house builders following the consistent number of new home registrations during November 2010 say the NHBC.
Imtiaz Farookhi, Chief executive of NHBC, said:
"The year started very brightly in comparison to last year, but tailed off as potential house buyers awaited the outcome of the government’s spending review in the autumn. Now that the scope of the planned cuts is known, there seems to have been a slight bounce in consumer confidence which may allow the industry to build some momentum in the early part of 2011.
What the industry needs above all else from the government in the year ahead is clear and consistent policy and, in particular, positive measures to improve mortgage availability which is now clearly the major factor constraining volumes."
NHBC statistics for the rolling quarter of September – November 2010 show that:
– Private sector registrations up 7% (to 19,909) when compared with the same period last year (18,617)
– Public sector registrations were 9,001. 6% higher than the same period in 2009 (8,507)
– Registrations in the combined private and public sectors were 7% up on the same period in 2009 (28,910, up from 27,124).
Steve Lees, Director at SmartNewHomes, comments on the figures:
“The latest figures from the NHBC are great news for the house building industry, which has been at a crossroads since the abolition of housing targets and the ensuing confusion over planning law. New homes are offering excellent value for money and developers are becoming increasingly innovative in the ways they are helping credit worthy customers obtain finance, as the mortgage famine continues. I believe this is the start of the recovery of the sector and would expect to see continued rises in new home registrations over the coming months."
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