Increase in affordable homes failing to offset private sector decline

The number of new homes to be built for those in the affordable and rental sector in the UK continues to rise significantly but these gains have failed to offset the decline in the private sector registrations, according to the latest NHBC figures.

Related topics:  Property
Rozi Jones
27th September 2019
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"The slowdown in overall registrations in August seems to be partly due to prevailing uncertainties in this pre-Brexit period."

3,875 new homes were registered in the affordable and rental sector in August, a 17% increase year-on-year, whilst home registrations in the private sector fell 20% to 8,420.

The overall number of new homes registered to be built by builders and developers across the UK in the month was down 10% compared to August 2018.

For the rolling quarter, between June and August, 40,213 new homes were registered compared to 42,329 in 2018 – a decrease of 5%. Within this, there was an 8% fall in the private sector, partially offset by 4% growth in the affordable and rental sector.

NHBC chief executive, Steve Wood, said: “The slowdown in overall registrations in August seems to be partly due to prevailing uncertainties in this pre-Brexit period. Nonetheless, it is encouraging to see growth coming through in the affordable and rental sector.”

 

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