Boom in build to rent lifts 2019 housing starts

Fast growth in multi-storey private rental housing has lifted housing starts in the first three months of the year.

According to latest NHBC figures, housing registrations rose 3% in the first quarter despite weakening demand in more upmarket housing.

Affordable and rental homes surged 36% to 10,831 while construction of private homes for sale fell back 6% to around 26,841.

The overall increase, despite the ongoing Brexit uncertainty, was also partly due to the low levels seen in the corresponding period 12 months ago when the ‘Beast from the East’ caused severe disruption on sites across the country.

At a regional level, London recovered strongly after a year in the doldrums with a 58% increase in registered homes boosted by a number of large schemes being registered at the start of this year.

But the previously booming north west was hit by a 21% fall in new home registrations.

NHBC registrations by region
England – Regions Jan 19 – Mar 19 Jan 18 – Mar 18
NORTH EAST 1,298 1,433
NORTH WEST & MERSEYSIDE 3,968 5,059
YORKSHIRE & HUMBERSIDE 2,511 2,459
WEST MIDLANDS 3,285 3,185
EAST MIDLANDS 2,650 3,460
EASTERN 3,658 3,800
SOUTH WEST 3,737 3,237
LONDON 5,625 3,549
SOUTH EAST 6,267 5,820
TOTAL ENGLAND 32,999 32,002
SCOTLAND 2,444 2,435
WALES 1,230 1,220
NORTHERN IRELAND & ISLE OF MAN 999 851
TOTAL UK 37,672 36,508

NHBC Chief Executive Steve Wood said: “Although Brexit uncertainties are impacting consumer confidence and causing some dampening of new-build and second-hand sale markets, housing remains an attractive asset class for inward investors, which does cause us to be more optimistic about build to rent.”

Original article: constructionenquirer.com

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