Bungalows, cottages, detached houses, terraced houses, maisonettes and semi-detached houses are easily recognisable as typical UK homes, but what you might have missed over the past 10 years or so is the roaring comeback of the detached home, and the falling rate of new build flats, maisonettes, terraced homes and bungalows.
The return of the detached home bodes well for the UK property market and the country as a whole, because it’s a further indication that the economic recovery is going ahead at a pretty good rate of growth. Detached houses share no walls with neighbours, so they are more private and are generally more expensive than other types of home.
According to the National Home Building Council (NHBC), there are more detached homes being built today than during the peak of the property boom in 2007, and that the number of newly built detached homes is at its highest recorded level since 2004. Of the 145,174 new homes built across the UK in 2014, 38,113 were registered as detached homes, a 24 per cent increase on 2013’s figures.
Also during 2014 new-build registrations in London were outpaced by Yorkshire and the Humber which showed a 24 per cent increase, Wales was up by 33 per cent, Northern Ireland experienced a 17 per cent increase and the West Midlands came in with a 16 per cent rise.
In 2008, 49 per cent all new-build homes registered were flats. Detached homes accounted for only 15 per cent of new builds, compared to today’s figures which show that flats and maisonettes account for 33 per cent of new builds while detached homes now make up 26 per cent.
During 2013 there was a 5 per cent increase in registrations for new build flats. Semi-detached homes also saw an increase, rising by 12 per cent. Terraced homes and bungalows saw year-on-year decrease of 2 per cent and 16 per cent respectively.
According to Mike Quinton, chief executive of the NHBC, the past decade saw an oversupply of flats outside London, and the growth in the detached home indicates that the balance is being restored to the country’s housing stock. He said that new construction is still below levels the country needs, and also below the levels during the boom. According to the NHBC, the total of new build registrations during 2014 is still below the annual average of the past 40 years of 153,000 registrations.
Housing is a top priority for government, and, according to Housing Minister Brandon Lewis, the NHBC figures shows that government efforts are having a positive impact and the country is building again.
The private sector recorded a 13 per cent rise with 110,403 new homes registered in 2014 compared to 97,399 during 2013. The public sector showed a 4 per cent drop from 36,271 in 2013 to 34,771 last year.
On the whole house-building levels increased by 9 per cent during 2014 with regions outside London and in the South East amongst the biggest drivers of growth.