Developers registered a total of 159,617 new homes last year, a slight 0.5% drop on 2017's figures
New housing registrations were stable in 2018, the latest statistics reveal.
According to the National House Building Council (NHBC), house builders registered a total of 159,617 new homes last year with the insurance provider, just 0.5% fewer than in 2017.
Breaking down the figures by sector, affordable housing stayed virtually level with 2017’s figures, whilst the private sector saw a slight 1% fall in new registrations.
New housing completions, meanwhile, saw a 1% increase in 2018, rising to a total of 149,480.
Registrations were up on an annual basis in eight out of the 12 months of 2018, with NHBC reporting seven consecutive months of growth after weather-related disruptions and Brexit uncertainty at the start of the year resulted in a slowdown in new home registrations.
In the final quarter of 2018, there was a 2% increase in new housing registrations, with the NHBC noting significant regional variations across the UK.
Yorkshire & the Humber had the largest overall growth in registrations at 20% compared with 2017, followed by the North West with an increase of 7%. By comparison, three regions – the West Midlands, East Midlands, and London – saw registrations fall by 10%.
Commenting on the figures, NHBC’s Chief Executive Steve Wood said: “The full–year figures of nearly 160,000 new home registrations demonstrate the resilience of the UK house-building industry.
“2018 has been a demanding year, with the extreme weather conditions in the early part and the continuing political and economic uncertainties, which are extending into 2019.”
Construction activity remains on its 10-month growth streak, although output softened at the beginning of the year according to the latest PMI by IHS Markit.