According to the organisation, 161,022 homes were registered to be built with the NHBC last year, up by 81 per cent on the number of properties registered to be constructed a decade earlier in 2009.
During this period, it’s the West Midlands that has experienced the biggest increase in new home construction, up 169 per cent between 2009 and 2019. The North West was in second place on the list, with registrations for new homes up by 149 per cent in this region.
The NHBC also pointed to the strength of the build-to-rent sector, which saw registrations of new properties increase by 57 per cent between 2018 and 2019 alone.
However, as the Guardian pointed out, even with an increase in the number of new home registrations last year, the sector is still well below the government’s target of 300,000 new residential properties being constructed each year by 2025.
Many people in the UK now rent properties rather than buying them, and for many the cost of renting is climbing.
The latest rental index from HomeLet revealed that average rents across the UK were up by 2.3 per cent in January 2020, compared to the same month in 2019. Nine out of the 12 regions surveyed experienced rental growth in the past 12 months.
In several regions, rental growth outstripped the UK average by some margin. For example, in the East Midlands, year-on-year rental growth hit 5.1 per cent.
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