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House building sector continues to grow

October was the strongest month for new housing registrations since June 2011, figures released by the National House Building Council (NHBC) have revealed.

It found a total of 13,950 new homes were registered in October (11,151 private sector; 2,799 public sector).

The previous highest single month for new home registrations was in June 2011, when 14,565 homes were registered.

October also showed a 10% increase in growth compared with the same month last year when 12,682 new homes were registered (9,666 private sector; 3,016 public sector).

The rolling quarter August to October showed an increase of 14%, with a total of 37,140 new homes (29,341 private sector, 7,799 public sector) registered, compared with the same period last year when 32,716 were registered (24,350 private sector, 8,366 public sector).

This represents a 20% increase in private-sector registrations, while public-sector registrations were down by 7%.

The strong figures were boosted, in part, by the registration of 539 new units during the third phase of the Battersea Power Station redevelopment.

As the leading warranty and insurance provider for new homes in the UK, NHBC’s monthly registration statistics help provide accurate data on the country’s new homes market.

Commenting on the statistics, NHBC chief executive Mike Quinton said; “The October figures show that the UK housebuilding industry is continuing to build on the strong new housing volumes seen in 2013. All the signs are that 2014 will be another encouraging year with growth being registered across all parts of the UK.

“While this is obviously positive news, we know that the industry is working from a historically low base so there is still much work to do to ensure this momentum continues.”

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