Registrations resilient despite market conditions

Registrations resilient despite market conditions

The NHBC today reports that the number of new homes registered in October was 10,028 – a slight rise on September’s registration levels (9,033).  Numbers have remained consistently between 9,000 and 11,000 since April this year.
Imtiaz Farookhi, chief executive of NHBC, said: "We have been slightly surprised by the resilience of registration volumes, given the slow start to the year, although the volumes still remain at historically low levels. "One possible explanation is that faced with flat or falling weekly sales per site, builders are looking to increase the number of sites they are selling off in order to maintain volumes. "One of the major factors cited by builders as holding back the market is the lack of mortgage availability or restrictive terms for those mortgages that are available – an issue particularly for first time buyers." NHBC statistics for the rolling quarter August – October 2010 show that private sector registrations were up 20 per cent (to 19,971) when compared with the same period last year (16,630).
Public sector registrations were 9,044 – 9 per cent higher than the same period a year ago (8,266) and registrations in the combined private and public sectors were 17 per cent up on the same period in 2009 (29,015 compared with 24,896).

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