The NHBC’s latest statistics showed that 40,000 new homes were registered by developers in the second quarter of this year (April-June); an encouraging stat considering the very evident housing shortage currently being experienced in the UK. These figures show a marginal decrease on the 40,180 figure registered 12 months ago.
Over 29,000 of the 40,000 homes were private sector - a decrease of 7% on the same period a year ago (31,381). Most notably, however, a significant increase could be seen in the registration of homes in the affordable sector - 11,220 new homes, which is a 19% increase from 2016 (9,429).
A number of larger Housing Associations are developing homes specifically for private sales, market rent and with shared ownership opportunities - as well as joint ventures with the private sector becoming more commonplace - in a quest to provide more affordable housing - and it’s these that are contributing to this continued rise.
Neil Urch, Sales Manager at Mayfair Town & Country Weston-super-Mare, commented: “This makes for very positive reading, as the issue of available housing is becoming more and more pressing – particularly the availability of affordable homes for ‘Generation Rent’ trying to get onto the property ladder. In Weston we are quite fortunate, having seen major growth over the last 10 years with the addition of Weston Village, West Wick, and the continued development of Persimmon Homes’ Haywood Village. St Modwen Developments already have planning permission for 1,450 more homes at Locking Parklands - with an outline planning permission recently submitted for 300 more - and a further 1,150 properties have been granted to Mead Realisations off Wolvershill Road. Very encouraging statistics for house –hunters in the South West.“
For more information on buying a new home, contact your nearest Mayfair Town & Country office.