NuGen Properties

Home completions return to pre-pandemic levels


A total of 40,289 new homes with NHBC warranties were completed in the second quarter 2022, up 16% on the same period in 2021.

(NHBC provides warranties to about 75% (+/-5%) of the house-building market.)

The second quarter, April-June, also saw a 45% increase in the number of new home registrations – the process by which house builders register plots they intend to build with NHBC – to 66,855.

This spike is in part due to builders seeking to minimise the cost impact of energy efficiency regulations introduced in June.

All 12 UK regions saw growth in the number of new home completions in Q2 except for Wales, where they dipped 1%. The largest increases were in the Northeast (up 39% to 1,781) and East Midlands (up 34% to 4,117).

Growth in new home completions was driven by the private sector with 29,963 in Q2 2022, up 23% on Q2 2021. New home completions in the affordable and build-to-rent sector were level with the same period last year at 10,326.

NHBC chief executive Steve Wood said: “Our latest figures demonstrate that output from the new homes market has made a solid return to pre-pandemic levels. At this stage we are not seeing evidence that the cost-of-living crisis or risks of recession are affecting consumer demand, whilst registration levels reinforce continued confidence within the sector.”

Click/tap on table to enlarge
Click/tap on table to enlarge

Got a story? Email [email protected]



Source link


Customer Reviews

Nugen Properties

Customer Reviews

Dan Morten 18/01/22

Google
Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

Google
NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Google
Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Google
Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Google
Great firm to communicate with fast and good quality work.