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Builder confidence rises on new home reservations

The HBF’s latest monthly Housing Market Report also shows that:

* The rate of decline in net new homes prices has eased markedly;
* The summer period was busier than usual with visitor and reservation levels falling only modestly between June and July compared to the usual large summer season falls.

The HBF new home survey results support other evidence from the sector that the housing market may well be past the worst, including:

* July homes sales across the whole housing market, including second-hand properties, were up on a year ago for the first time in two years – Office of National Statistics;
* Mortgage approvals for house purchase in July were up more than 50% on July last year – Bank of England;
* Estate agents have been reporting rising levels of interest from new buyers for the last nine months – RICS.

Stewart Baseley, Executive Chairman of the HBF said: "These figures are very welcome after what has been a tremendously difficult two years for our industry.

"The need for new homes in Britain has not gone away, and it is only the private home building industry that can deliver them on the scale that is needed."

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