NHBC provides warranties for over 80 per cent of the UK’s new-build homes. Mr Shapps said that by extending the scope of information they provide, the Government will be able to drill down into the fine detail of the house-building process and understand how government can help to enable the delivery of the homes the country needs.
The Government has already taken strong action to help unblock the property pipeline. The £400 million Get Britain Building Fund will restart stalled developments while the Mortgage Indemnity Scheme helps first time buyers find the funds they need to buy newly built homes.
But by sharing the insights of these housing market experts, Mr Shapps believes many more stumbling blocks could be overcome.
Information that could be shared by NHBC includes:
house-building activity levels
information on where projects have stalled and why
building quality and design
sustainability of new housing
speed of build
insights into the possible effects of proposed policies
historical data comparisons.
Housing Minister Grant Shapps said:
"As we look to get Britain building again, we’ve taken decisive action to bring down the barriers to building with help to get stalled projects back on track, incentives for councils to build and extra support for first-time buyers.
"But there’s always more to be done and that’s why I’m asking the experts to help us know exactly how the market ticks. NHBC have long worked closely with Government to ensure our numbers are as accurate as possible. I know that today’s new partnership will broaden and deepen both our understandings of cause and effect in the housing market and bring new ideas and insights to the fore."
Imtiaz Farookhi, Chief Executive of NHBC said:
"NHBC works closely with the Government to support the delivery of high quality sustainable new homes for homeowners across the country.
"We are delighted to agree this new partnership to provide a vast range of detailed information.
"High quality data plays such an important role helping the Government to assess the progress of its housing programme. Our partnership will support this and help deliver more quality new homes that the country desperately needs."
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