It appears that Brexit is taking it’s toll on the new homes market as evidenced by the drop in private registrations according to the NHBC.
The national figure for year on year February was a decline of 17%. Overall registrations, including affordable, decreased by 7% showing a clear upsurge in the affordable sector.
However, even including the affordables Yorkshire and the North East both showed declines in total registrations of 4% and 24% respectively. The North West showed an increase of 11%. This was significantly supported by affordables as the private registrations for the region dropped by 5%.
The rolling quarter stats for December through to February summarise the picture well. Nationally, private registrations dropped by 13% whilst affordable shot up by 36%.
Let’s hope for a political resolution soon and better numbers in the second half of 2019.