The NHBC found 26,959 new homes were registered in the first quarter of 2026, 6% less than the first quarter of 2025.

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

Overall, declines in registrations were recorded in eight out of 12 regions with the biggest recorded in Northern Ireland, Wales and London.

Completions were also down, albeit marginally. In the start of 2026, 26,196 new homes were completed while 26,218 were finished in the first quarter of 2025.

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This is the lowest quarter of completions since the 11,058 homes built in the second quarter of 2020.

“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,” said Daniel Pearce, corporate strategy director at the NHBC.

“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.

“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.”