New home building slumps 13% as the industry warns it is at a 'critical point' and affordable homes plunge 23%
Construction workers. The National House Building Council logged just 26,231 new home starts in the third quarter, down 13%, with affordable and rental registrations collapsing 23%.5% deposit amid warnings that boosting supply remains…
Only 26,231 new homes were registered with the National House Building Council in the third quarter, down from 30,279 a year earlier. Rental and affordable registrations fell to 7,872 from 10,225. Private sector registrations slid 8% to 18,359. NHBC chief strategy officer Daniel Pearce warned that 'demand remains fragile' and the pipeline of new homes 'is continuing to shrink'.
The South East of England and Northern Ireland suffered the steepest falls, both down 32%.
Ministers are pinning hopes on 'Your First Home', offering new builds with a 2.5% deposit.
