New home registrations in London fall 37% in a year

Registrations of new homes in London have plummeted 37% in a year, according to latest figures from the National House Building Council (NHBC).

The latest figures show just 937 homes were registered with the insurance and warranty provider in the first quarter of 2026. This is down on the 1,494 registered for the same period last year.

The figure of 937 is the lowest figure in recent years and is a stark contrast to the totals of more than 7,000 registered in the first quarter of 2014 and 2015 – meaning registrations have dropped eightfold in slightly more than a decade (see graph).

The data is likely to cause further concern among policymakers about the slowdown in housebuilding activity in the capital, where an emergency housebuilding package was announced in October in a bid to stimulate the market.

Across the UK, registrations of new homes fell 6% on average in the quarter year-on year from 28,715 to 26,959.

Private and affordable sector registrations were down 7% and 4% respectively.

Registrations fell in eight out of 12 regions, with Northern Ireland seeing a 44% drop in registrations to 800. Increases were seen in the North East, North West, Yorkshire and the West Midlands.

Daniel Pearce, corporate strategy director at NHBC, said: “It’s a perfect storm - the market is subdued, mortgage rates are rising and cost pressures on households are in full effect, exacerbated by geopolitics and recent conflicts.

“Resolving affordability challenges for homebuyers remains the key to unlocking demand. The market is crying out for some targeted stimulus, such as a new buyer incentive, to help those who need it most get on the housing ladder.

“At present, there is little incentive for developers to accelerate building. Easing certain regulatory requirements, at a time when other costs are rising beyond their control, is a lever that could be pulled to support home builders, particularly SMEs.”

Completions across the UK remained steady at 26,196, compared to 26,218 the previous year.

NHBC covers more than 70% of the warranty and insurance market and its figures for registrations are widely used as an early economic indicator for housebuilding activity.