Home building levels getting back on track

The rate of recovery had dipped in January as extreme weather conditions impacted on registrations. But with spring approaching, the private sector appears to be showing signs of recovery. 

"As we enter the spring building season, there is a cautious optimism about the signs of improvement in the sector," said Imtiaz Farookhi, chief executive of NHBC.

"The average daily home sales are increasing when compared with this time last year, which given the difficulties surrounding mortgage availability is a positive statement of intent. There is a palpable sense of the property sector working together to do all it can to continue and sustain recovery."

NHBC statistics show that recovery was remarkably evenly spread across the UK, with almost all regions reporting higher levels of registrations for the three months December 2009 to February 2010 than the same period in 2008/9.

NHBC statistics for the three months to the end of February 2010 also show that the recovery is largely driven by the private sector, which was most affected by the recession.

– Private sector applications at 16,669 for the three months to February 2010, were up 110 per cent when compared with the same period last year (7,931)

– Public sector figures for the three months to the end of February were 7,436 – 13 per cent higher than the same period a year ago (6,606).

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