NEW home registration statistics for the UK fell marginally by two per cent during Q3 when compared to the same period last year, according to new figures released today by NHBC.

However, the overall year-to-date figures up to and including September show that the number of new homes registered with NHBC is nine percent higher than the same time last year (117,525; 108,118 in 2014).

In total, 36,219 new homes were registered in Q3 compared to 36,955 a year ago. The private sector is static at minus one per cent (28,527; 28,906 in 2014), with the public sector down by four per cent (7,692; 8,049 in 2014).

Experts in the housing industry have attributed the drop in public sector registrations to many housing associations holding back on developments in light of welfare reforms and the cap on rental increases.

The new statistics also show that London reported a 25 per cent rise in the number of new homes registered during Q3 (7,289; 5,812 in Q3 2014).

On a national level Northern Ireland (+39 per cent), Scotland (+eight per cent) and Wales (+four per cent) all enjoyed a positive quarter when compared to the same period last year.

However, in England several regions reported a reduction in the number of registrations for the quarter.

Year to date figures show growth in 10 out of the 12 regions in the UK.

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

Commenting on the new registration statistics, NHBC chief executive Mike Quinton said: “Despite the marginal drop in housing registrations this quarter, 2015 is still promising to be a strong year for new housing growth in the UK.

"Our year-to-date figures show that registrations in both the private and public sector are ahead of last year.

“The industry remains upbeat and is working hard to build the number of homes our country so desperately needs, despite the pressures associated with rapid growth.”

In October 16,434 new homes (12,965 private sector; 3,469 public sector) were registered, an increase of 17 per cent on the same month last year (11,188 private sector; 2,809 public sector).

One reason for the substantial volumes seen during October is that builders registered new homes in time to take advantage of the lower rate of Insurance Premium Tax which increased by 3.5 per cent on November 1.

Mr Quinton said: “The last three months have seen new home registrations in line with the corresponding period a year ago.

"However, we expect to be reporting growth for 2015 as a whole, as the first 10 months of 2015 show a 10 per cent increase in registrations compared to the same period last year, this is still well below the number of new homes we need.

"We welcome the announcement and that housing remains a key priority for government.”