NHBC data shows that completions of new homes totalled 40,289 during the period. The last time completions were above 40,000 according to the figures was in Q4 2019 when 42,354 new homes were completed.
During Q2 2022, registrations also increased 45%, totalling 66,855, compared to Q2 2021’s 46,217. NHBC said this increase was partly due to housebuilders wanting to beat the change in regulations in June “to minimise the cost impact”.
The private sector led the completions increase in Q2 2022, up 23% on Q2 2021 at 29,963 new homes. Meanwhile, completions in the affordable and Build to Rent sectors were the same year-on-year at 10,326.
Eleven out of 12 UK regions witnessed growth in new home completions. Notable increases were found in the North East (1,781 in Q2 2022 against 1,284 in Q2 2021) and East Midlands (4,117 in Q2 2022 vs 3,071 in Q2 2021). Wales was the only region to experience a slight decrease - 1,183 compared to 1,189 in Q2 2021.
Steve Wood, NHBC’s CEO, said: “Our latest figures demonstrate that output from the new homes market has made a solid return to pre-pandemic levels.
“At this stage, we are not seeing evidence that the cost-of-living crisis or risks of recession are affecting consumer demand, whilst registration levels reinforce continued confidence within the sector.”
