Beast from the East hits housebuilding
The so-called ‘Beast from the East’ has had an adverse effect on housebuilding, according to construction insurers the National House-Building Council.
Figures, based on the number of builders registered for a NHBC warranty, have shown that the number of new homes registered between April 2017 and 2018 were down on the previous year.
Whereas 2016/17 figures represented a record high of 157,805 registrations, the latest were at 116,451. Nevertheless, this was still the second highest amount since the financial crash.
The start of the year saw a 14 per cent fall in the number of homes registered, which the NHBC put down in part to the poor weather conditions. A present shortage in building skills and a degree of tentativeness over Brexit were also factored in as reasons for the drop.
Commenting on the figures, the chief executive of the NHBC, Steve Wood, said: “New home registration figures for the last financial year have reached the second highest level in a decade, despite a challenging start to 2018, with freezing weather conditions affecting building sites up and down the country.
“Business confidence in both the private and affordable sectors remains high with clear routes to continued growth in 2018, and the NHBC will continue to help support house builders to build the high quality new homes that people across the UK need.”