London leads the way for housebuilders

Registrations to build new homes across the UK for the first quarter of 2010 were up 72 per cent to 27,974 in comparison to 16,232 registrations for the same period last year. Notable growth was seen in London with new home registrations increasing by 138 per cent for the three months to March 2010 (to 3,100), when compared with the same period last year, and the West Midlands increasing by 153 per cent (to 2,349). 

"The data for the first quarter of 2010 shows compelling evidence of a continued recovery, albeit from an exceptionally weak comparative period," said Imtiaz Farookhi, chief executive of NHBC. "It will be easier to gain a clearer view of how the recovery will develop following the election, when we should have a better idea of the direction of the economic environment."

"It is encouraging that housing registrations across the country have picked up as they have been low for some time, particularly in London. While registrations are still significantly lower than before the recession hit, these latest figures are certainly a step in the right direction."

NHBC statistics for the three months to the end of March 2010 show that both private and public sector demonstrated significant improvements:

– Private sector applications at 18,412 for the three months to March 2010, were up 114 per cent when compared with the same period last year (8,613)

– Public sector figures for the three months to the end of March were 9,562 – 26 per cent higher than the same period a year ago (7,619).

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