Housebuilding enjoys best start in eight years
Figures released by the National House Building Council (NHBC) show that housebuilding enjoyed a productive first quarter, surpassing levels last witnessed eight years ago.
In total 40,281 new homes were registered in the UK between January and March, with the majority of regions experiencing strong growth.
This marks the highest first-quarter total since 2007, when 53,420 new registrations were recorded nationwide, and represents a jump of 18% on the same period in 2014.Some 17,210 new houses were registered in March alone, up 32% year on year.
Registrations in the private sector jumped by 26% during the three-month period from 24,428 last year to 30,691, while registrations in the public sector decreased by 1% from 9,735 to 9,590.
In March, new homes in the private sector increased from 9,051 to 12,699 compared to the same month a year ago. At the same time, new homes in the public sector also shot up from 4,017 to 4,511.
The majority of the UK experienced strong growth during the first quarter. However, London bucked the national trend, as new registrations dropped 29% year on year.