New home registrations bounce back after Brexit vote nerves
The number of new homes being registered across the UK picked up in August and September to its best levels since 2007 as the industry shrugged off nervousness following the vote to leave the EU, a report has found.
The National House Building Council (NHBC), a warranty and insurance provider, said nearly 36,000 new homes were registered between July and September, which was "virtually identical" to the number seen during the same period a year earlier.
Within the latest quarterly total, there were 10,529 registrations in July - but the numbers then increased to 12,494 registrations in August and 12,930 in September.
The NHBC said the months of August and September saw the highest numbers of registrations for any August or September since 2007.
The NHBC's registration figures are taken from builders who are responsible for around 80% of homes constructed in the UK.
Builders are required to register a house with the NHBC before starting work, which means its figures represent homes that are to be built in the months ahead.
NHBC chief executive Mike Quinton said: "Following a quiet July, registrations bounced back in August and September as the industry shrugged off early nervousness following the vote to leave the EU."
Looking across the UK, Scotland and London have seen particular dips in new homes being registered during the third quarter compared with a year earlier.
In London, 3,856 homes were registered in the third quarter of 2016 - down by 45% compared with a year earlier. London has already seen some strong housebuilding activity in recent years as the economy started to recover.
In Scotland, 2,040 new homes were registered in the third quarter, down by 38% on a year ago. In Wales, registrations were down by 8% on a year ago, while in Northern Ireland they fell back by 1%.
By contrast, new registrations were up over the same period by 56% in the South East as many house hunters look for value in the commuter belt areas surrounding London.
Registrations also jumped by 48% in north-west England and by 42% in Yorkshire and Humberside compared with a year earlier.