Private registrations down 57% in Q3 – NHBC

Private new home registrations fell 57% in the third quarter of 2023 against Q3 2022, with overall registrations more than halving to levels not seen since the first Covid lockdown, according to the latest data from NHBC.

During July, August and September 2023, 13,429 new homes were registered in the private sector compared to 31,334 during the equivalent period last year.

Registrations in the rental and affordable sector fared better but still saw a 43% decline to 7,251.

Total registrations decreased 53% to 20,680 new homes against Q3 2022. This compares to the Covid-hit Q2 2020, when 20,024 homes were registered during the industry shutdown.

New home completions in Q3 2023 slipped 15% to 30,022. Private sector completions dropped 20% to 20,242 homes; those for rental and affordable totalled 9,780 against Q3 2022’s 9,866.

Citing current market conditions for the decline in housebuilding, Steve Wood, NHBC’s ceo, said that while private new home registrations had taken the “biggest knock” in the quarter, several major housebuilders were partnering with housing associations and Build to Rent providers which, he said, was helping “to address some of the demand for affordable homes, providing more options in the …