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Highest number of new home registrations in 15 years

ended 23. February 2023

Last year was the strongest for new home registrations since 2007, according to data published today by the National House Building Council (NHBC) - with build to rent especially buoyant. Across the UK, 191,801 new registrations were recorded by the NHBC in 2022, marking the highest annual total since 198,467 in 2007. The number in 2022 was 26% higher than in 2021. This story is BREAKING so please respond ASAP.

  • How busy are property developers in your experience?
  • Presumably, lenders are still comfortable providing finance to the right house builders?
  • The NHBC said there is a greater focus on ‘build to rent’ - is this what you're seeing?
  • What are the challenges facing house builders at present?

2 responses from the Newspage community

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Justin MoyVerified
Managing Director at EHF Mortgages
These figures will probably have been for those sold before the last 3 months of 2022 - I hear mixed messages from a number of local developers, either holding back on launching new property phases, whilst waiting for mortgage rates to reduce, or (increasingly) there is the trend to throw as many incentives as possible at a property just to sell. Removing Help to Buy is an added frustration to the developers, but mortgage lenders will still support most situations with a reasonable deposit, so prices will find their natural place over time.
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Jamie Davidson0
Managing Director at Conduit Finance
How busy are property developers in your experience?
- Busy with current schemes but tempo is slower
- Many developers seeking to retain unsold assets on long term loans

Presumably, lenders are still comfortable providing finance to the right house builders?
- Yes, prime lenders dropping LTC's to 55% and secondary lenders up at 90% LTC charging double-digit inc fees.
- The search for equity has increased significantly

The NHBC said there is a greater focus on ‘build to rent’ - is this what you're seeing?
- Yes but equity efficiency in the development loans v longer term tricky. Low yields v higher debt cost and lower leverage challenging.

What are the challenges facing housebuilders at present?
- Capital costs up / Leverage down / Raw materials up