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03/03/2014

New Home Registrations Increase

The number of new homes being registered in the UK in January has increased, according to new figures.

A new study, carried out by the National House Building Council (NHBC) found there was a 14% increase in new registrations for the rolling quarter (November '13 to January '14) compared to the same period in 2012/13.

As a result, new home registrations are now at the highest level since 2007.

In total, 11,489 new homes were registered in January 2014, compared to 10,112 last January, with 2,193 of these properties located in Scotland. For the year before, some 1,734 new homes were registered in Scotland.

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Commenting on the latest statistics, Homes For Scotland said there was a 26% increase in new homes registered in Scotland for the rolling quarter November 2013 to January 2014 compared with the same period last year. While this serves to highlight positive market growth, the industry body said it was also a warning regarding the number of barriers to development which need to be addressed.

Philip Hogg, Chief Executive of Homes For Scotland, explained: "These latest figures provide real evidence that home builders have stepped up production in order to meet rising demand. However, if we are to fully meet growing need, it is imperative that focus now turns to the major supply-side barriers which continue to hamper growth and output.

"It is only by improving access to development finance, increasing land supply and tackling the shortages which currently exist in skills and material shortages that we will be able to provide the many thousands of homes which are so desperately required across the length and breadth of the country."

(JP)

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