Latest figures from NHBC have revealed the capital experienced a 61% increase in the registration of new homes during Q1 this year compared to the same period in 2012.
In total 7,287 new homes were registered in London between January and March – an increase of more than 2,700 against last year’s total of 4,529.
The landmark Battersea Power Station redevelopment helped boost the Q1 figures as more than 800 new properties were registered during the first phase of the project. Over the next 15 years, more than 3,000 new homes will ultimately be built on this iconic London site.
As the leading warranty and insurance provider for new homes in the UK, NHBC’s housing registration statistics are a key indicator of the overall performance of the housing industry.
Richard Tamayo, NHBC’s Commercial Director, said that the latest figures are proof of the returning confidence to the industry, “The Q1 figures for London are a huge boost for the house building sector and shows the vast improvement this year compared to the start of 2012. Across the country we are seeing positive signs and increasing registration levels which is encouraging news for the sector and hopefully proof that we are emerging from what has been an extremely difficult few years.”
IMAGE: Barratt Homes ‘Waterside Park’