New-build home construction is 'on the up'

Posted: 24 Nov 2009 12:08:43 GMT

New home registrations are at their highest level in over a year, statistics reveal.

Steve Turner, head of communications at the Home Builders Federation (HBF), said that figures showing the rise in the construction of new-build properties are "extremely positive".

The recent National House-Building Council (NHBC) statistics reveal that the number of applications for new properties has increased by 27 per cent in the last three months, compared to the same period in 2008.

There were a total of 9,163 new home listings in October.

Mr Turner went on to say that he hopes to build on the stabilisation that has been helped by government stimulus measures such as HomeBuy Direct and Kickstart. The HBF is now encouraging the government to continue with these stimulus methods.

According to Mr Tuner, when mortgages become more readily available the industry should see a more sustainable recovery.

Private sector applications have also increased by 45 per cent in the last three months, compared to the same period in 2008, according to the NHBC.

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