New home registrations drop in London as the rest of the UK benefits

New HomeNew home registrations have dropped significantly in London as figures continue to rise elsewhere throughout the UK.

With the exception of the North East, the latest figures from the National House-Building Council (NHBC) show that between the rolling quarter of February and April 2014 to the same period in 2015, the number of new homes registered grew in each region outside the capital.

Areas like the East and South East regions saw the greatest levels of growth between the two quarters, with registrations increasing by 1,554 and 1,663 respectively. However, London saw its figures decrease by 2,398, with less that 5,500 new homes registered with the NHBC between February and April 2015.

Despite this fall, the number of registrations across the UK continues to outperform 2014 levels, increasing by 20% compared to the same period last year (41,307 in 2015; 34,451 in 2014). This follows the strong Q1 growth reported by NHBC earlier this month.

The private sector increased by 24% during this period (31,083 in 2015; 24,993 in 2014), with the public sector also up by 8% (10,224 in 2015; 9,458 in 2014).

Mike Quinton, chief executive of the NHBC, said: “The very positive start to the year continues, with the growth in new home registrations unaffected by uncertainty ahead of the General Election, and so 2015 is likely to be another strong year.

“Now that the outcome of the General Election has been decided, we look forward to continuing our work with Government to ensure that housing remains at the top of the political agenda, to help us get back to pre-recession building levels.”

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