New Build Housing Falls Year on Year But the Signs are More Positive for 2024 - Granite Building Warranties

Over thirteen yearsexperience in the industry

We can offer aMarket comparison

Accepted bymajority of high street banks

Recognised byUK Finance

New Build Housing Falls Year on Year But the Signs are More Positive for 2024

  • New homes completed in Q3 2023 were down 15% on the same period in 2022.
  • New home registrations fell by 53% in the third quarter of 2023 compared to the same quarter in 2022.
  • 20,680 new homes were registered in Q3 of 2023 compared to 44,153 in Q3 2022.
  • Design development refining the plans.
  • Economic factors including interest rates, inflationary pressure, a poor planning system and complex regulations all lead to fewer homes being built.
  • In the whole year to December 2023, new build home starts were 16% down compared to the year to 31 December 2022, and completions were 11% down year on year.
  • The estimated number of new build completions for 2023 was 231,100, a 9% decrease compared to 2022.

Granite Building Warranties

Source: Figures released by the National House Building Council (NHBC)

Positive Outlook for the Housing Market

  • Housebuilder sales rates are picking up.
  • The pace of build cost growth has slowed significantly.
  • UK house prices are stabilising and mortgage rates are coming down.
  • Interest rates are levelling off and build cost inflation has eased.
  • Opportunities for developers to build now and sell in a few years into a market starved of stock.
  • De-risking across large scale projects through block sales.
  • Investors and operators in build-to-rent, student and seniors housing will be key.

Savills Residential Research also shows a positive increase over the coming 5 years in their Mainstream Capital Value forecast

Granite Building Warranties

Granite Building Warranties are specialist independent brokers of building warranties for the construction industry and for a quote or further information, please contact Ed or Kelly on Tel: 01284 365345 or email /

Copyright © 2024 Granite Building Warranties

Supported by Fox 360 Ltd

Granite Building Warranties Ltd is an Appointed Representative of Richdale Brokers & Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority.
Granite Building Warranties is a company registered in England and Wales (Company Number 11497543) with its registered office at 1st Floor, 5 Century Court, Tolpits Lane, Watford, WD18 9PX