Business

'Promising' figures show sharp uplift in Northern Ireland house building

The number of new homes being built in the north has increased dramatically in comparison to the last year
Gareth McKeown

THE number of new homes being built in the north has increased dramatically in comparison to the previous year, according to new figures.

The latest data for Northern Ireland from the National House-Building Council (NHBC), which also includes the Isle of Man shows a significant uplift in the number of new homes, with 1,758 registered between May and July 2018 - a 70 per cent jump on the same period a year ago

The uplift in local house building is part of an overall UK-wide increase within the sector of 11 per cent, with the figures covering May to July showing 43,600 new homes registered, compared to 39,421 in 2017. During this period there were 31,264 new homes registered in the UK's private sector - an 11 per cent jump on 2017 and 12,336 new homes built in the affordable sector - an increase of 9 per cent.

Over this period, London experienced an 86 per cent increase in registrations, partly due to a spike in the number of large housing association and private rental sector developments in the capital.

July was a particularly busy month, with 12,087 new homes being added in the private sector - 44 per cent more than the 2017 figure (8,421) and 3,782 registered in the affordable sector - an increase of 12 per cent.

NHBC chief executive, Steve Wood described the latest figures as "promising".

“Following a slow start to the year due to the extreme weather, we have had promising new home figures in recent months with July seeing a real uplift. Over the last three months we have had growth in new home registrations in eight out of 12 UK regions, with London leading the way," he said

As a leading warranty and insurance provider for new homes in the UK, NHBC's registration statistics are an indicator for the new homes market.

Enjoy reading the Irish News?

Subscribe from just £1 for the first month to get full access

Business

Today's horoscope

Horoscope


See a different horoscope: