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UK House Building Picking up Pace

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UK Housing Market  National House Building Council  Travis Perkins  Toolstation  Howden Joinery  Richard Tamayo 

UK House Building Picking up Pace

By - Tuesday 30 July 2013

The National House Building Council (NHBC) received registration papers for a total of 67,422 homes in the first half of this year. This is the most the non-profit insurance and standards body has received in the period since the first half of 2008.

Richard Tamayo, the NHBC's commercial director, said: “While London remains an engine for growth we are seeing overall numbers up across the UK.”

The NHBC says its registrations, which reflect builders’ housing starts, account for 80 percent of the UK new build market. In the second quarter alone there was a 38 percent increase seen on a year earlier, taking the total to 35,683 starts.

Regional breakdown of house building activity:

REGION

APRIL - JUNE 2013

APRIL - JUNE 2012

     

England - Regions

   

North East

1,674

809

North West

2,324

2,097

Merseyside

423

391

Yorkshire & the Humber

1,636

1,536

West Midlands

2,848

1,992

East Midlands

2,693

2,202

Eastern

3,888

2,883

South West

3,911

2,616

Greater London

7,824

3,297

South East

4,355

4,335

Totals for England

31,576

22,158

Scotland - Councils

2,611

1,966

Wales - Unitary Authorities

848

1,201

Northern Ireland - Counties

623

447

Isle of Man

25

26

Totals for UK

35,683

25,798

           

 

According to reports the market is being boosted by government policies aimed at helping the UK housing market to recover, which are particularly focused on first time buyers and the new build segment.

It is not just the NHBC data that suggests an improving market, last week FTSE 100 builders' merchant Travis Perkins said a “very tough” start for the year had been followed by a “considerable step up” in May and June.

Revenue rose 1.6 percent to GBP 2.4bn for the first half of 2013, while pre-tax profit dropped to GBP 134.7m from GBP 154.8m. The previous year, profit had been boosted by the purchase of hardware supplier Toolstation, which subsequently had its value written up. Travis Perkins' retiring Chief Executive also said prospects are brighter for the coming years, stating this as a reason for his feeling confident enough to retire.

Separately, kitchens and joinery company Howden Joinery said first-half revenue rose from GBP 364.6m to GBP 390.8m.

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