Saturday, September 26, 2009

Appplications to build new homes rise

Applications to build new homes have risen for the sixth quarter in a row.

The National House Building Council (NHBC) siad that it received 24,246 applications to build new homes in the UK in the three months from June to August 2009.

The figure represents a 2.5% increase on the previous rolling quarter (23,661).

The body said that it had seen an improvement on the last rolling quarter in around half of the regions across the UK.

Applications in some areas of the country were up substantially on the same period in the previous year. Wales saw and 18% increase, while the North East registered a 16% rise. But applications in London fell 29%.

Imtiaz Farookhi, NHBC chief executive, said: “The sector is undergoing a period of consolidation after a very challenging year.  The autumn is a significant time, as we will be able to take a view of the market in light of improving economic indicators and the resulting effect on the sector’s confidence.” 

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