Housebuilders have completed 40,289 new homes in the second quarter of 2022 – a 16% year-on-year increase, according to the National House Building Council (NHBC) figures.
Eleven out of 12 UK regions saw growth in the number of new home completions, with the Northeast leading the way with 1,781 new homes – a 39% year-on-year increase. The East Midlands came second with 4,117 new homes – a 34% increase, with Wales showing a slight decrease of 1,183 homes compared with 1,189 new homes.
Moreover, new plot registrations jumped by 45% in the second quarter to 66,855 as builders rushed to beat the cost of new energy efficiency regulations introduced in June.
Private sector completions saw a 23% year-on-year at 29,963 but affordable and rental sector completions stayed flat at 10,326.
Steve Wood, chief executive at NHBC, said: “Our latest figures demonstrate that output from the new homes market has made a solid return.
“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.”
>>Read more about the latest industry trends here.
