Press Release

Home starts reach new low in August

19 September 2008

NHBC new house-building statistics show that applications to start new homes in the private sector in August fell to the lowest since their accessible records began.

NHBC's latest figures show that they received 3,720 applications to start new homes in the private sector in August, 76 per cent lower than the same month a year ago (15,661).

Statistics for the three-month period from June to August also continued to reflect the tough housing market conditions.  NHBC statistics show that were 25,097 applications to start new homes in the UK in those three months - a 51 per cent decrease on the same three-month period a year ago (51,730).  Of that total, 14,665 related to private sector activity (i.e. excluding housing associations), showing a 65 per cent decrease on the same three month period in 2007 (42,071).

Housing association figures for the three months to the end of August revealed an increase in applications to start social housing properties, with starts totalling 10,432 - an increase of eight per cent on the same period a year ago (9,659).

Imtiaz Farookhi, NHBC Chief Executive, says: "Our calendar year to date figures show there has been a 48 per cent reduction in the number applications to start new homes by the private sector.  However, the social housing sector is currently showing more resilience to the downturn, with starts for the first eight months of this year totalling 24,825, six per
cent lower than the same period last year."      

NHBC statistics show new build completions totalled 41,118 in the three months to the end of August this year - 16 per cent lower on the same period last year when 48,861 new homes were completed.     

Additional figures for the three months from June to August 2008 show that the average number of daily sales of new homes in the UK was 458, a decrease of 21 per cent on the same period a year ago (579).

NHBC's publishes a quarterly booklet of its new house-building statistics - to subscribe visit www.nhbcbuilder.co.uk