New home registrations up 20 per cent year-on-year
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The number of new homes registered to be built in the UK is on the rise.
According to data from the National House Building Council (NHBC), 12,486 new homes were registered in August, up 20 per cent year-on-year.
Of the homes registered to be built, 9,225 were in the private sector and 3,261 were in the public sector, up from 10,391 in August 2015 (8,385 private sector, 2,006 public sector).
There was an 8 per cent decrease in registrations year-on-year between June and August, however - 36,869 were recorded between June and August 2016, compared to 40,123 in the same period last year.
Greater London was the hardest hit, with a 50 per cent reduction in registrations - 4,134 down from 8,267.
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The South East was one of the many regions that reported an increase however, with 5,367 registrations recorded between June and August this year, compared to 4,511 a year ago.
These figures came in the wake of the EU Referendum in June, which lead to industry-wide caution.
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NHBC Chief Executive Mike Quinton said: “August’s registration statistics show that the number of new homes being registered is considerably up compared to the same time last year.
“While overall rolling quarter numbers are down 8 per cent, this came during an unprecedented period of uncertainty immediately after the EU Referendum. Despite this over half of the UK regions experienced growth in registrations compared to the same three month period last year.”