The number of new detached homes being registered increased to the highest level in nearly 20 years in the first quarter of this year, according to an industry body.
Some 16,090 registrations for detached homes were recorded in the first quarter of 2022 as housebuilders continued to respond to buyers looking for extra space to suit working from home, the National House Building Council (NHBC) said.
The figure is the highest since the second quarter of 2002 when 16,828 detached houses were registered.
Overall, the number of new homes being registered across the UK jumped by a quarter (25%) in the first three months of this year compared with a year earlier.
Material and labour supply shortages continue to be a challenge, but this is now being managed by housebuilders as ‘the new normal’Steve Wood, NHBC chief executive
Homes are registered with the NHBC before being built so its figures are an indicator of the housing stock in the pipeline. The body has a 70% to 80% share of the UK warranty market.
Some 45,991 new homes were registered to be built in the first quarter of 2022, the NHBC said.
It said private sector registrations were a key driver of growth, with gains also being made in the number of properties being built for the rental sector.
The number of new home completions fell by 4% compared with the first quarter of 2021, with some disruption caused by materials shortages and supply chain challenges, the NHBC said.
NHBC chief executive Steve Wood said: “We have seen a strong start to the year with a 25% uplift in new home registrations in the quarter, reflecting a reasonably buoyant new-build market and strong forward sales.
“Material and labour supply shortages continue to be a challenge, but this is now being managed by housebuilders as ‘the new normal’.
“Inflationary pressures and the strain on household budgets may yet impact market activity, with this likely to be dampened by continued strong demand in both private sale and rental sectors.”