London new home registrations reach record high

The number of new homes registered in London last year was the highest since electronic records began over 26 years ago – new figures from NHBC have revealed.
In total 26,230 new homes were registered in the capital last year, a 60% increase on 2012 figures (16,364).

Overall, annual figures for new home registrations in the UK increased by 28% in 2013, compared to the previous year. Scotland and Northern Ireland also reported year-on-year increases.

In summary, NHBC’s annual statistics for 2013 reveal:

133,670 new UK homes were registered last year compared to 104,514 in 2012.

All English regions reported growth on 2012 figures

UK private sector up 25% on 2012 (97,399 – 78,125);

UK public sector up 37% on 2012 (36,271 – 26,389);

NHBC chief executive Mike Quinton said: “Looking back at 2013 it is very clear that it has been the best in a number of years for the sector as a whole, across the entire country. Over the year, we have seen a genuine return of confidence to the industry as builders strive to meet the growing demand for new homes that the UK clearly needs. Government initiatives such as Help to Buy have also contributed to registrations increasing at their fastest rate since the downturn.

“According to our records, London enjoyed its highest ever annual total of new home registrations. This can be attributed to prime sites, such as Nine Elms, now being redeveloped largely for residential use, an increase from overseas investment into the market and the capital’s continued appeal as a property hotspot.”

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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