Housing Market Report

Housing Market Report No.303 January 2018 CONTENTS HOUSING SUPPLY 2 Housing starts 2-3 Housing completions 4 Regional analysis 5 Under construction 6 Housing supply tables 7-9 QUARTERLY STATISTICS Q1 Introduction & Overview Q1-Q2 Starts Q3-Q5 Completions Q6-Q8 Registrations Q9-Q12 Timber Frame Q13 Regional Directors update Q14 HBF SURVEY 10 Key findings 10 Annual comparisons 11 Monthly comparisons 12 House prices and sales 13-14 HBF tables 15-16 MARKET OUTLOOK 17-18 -61% Monthly difference % balance of site visits We provide the most up-to-date data and analysis on the housing market, from the most authoritative sources. This publication, compiled and written by NHBC is essential reading if you re tracking market trends. -2.6% NHBC rolling three months private housing starts to December 2017 +6.4% NHBC rolling three months private housing completions to December 2017 5,100 NHBC private housing starts in December 2017 10,500 NHBC private housing completions in December 2017 NHBC HOUSING STARTS Housing starts decreased on both their year-to-date and rolling three months figures when compared to last year (Table 1.1). NHBC HOUSING COMPLETIONS Completions increased on both their year-to-date and rolling three months figures when compared to last year (Table 1.2). GOVERNMENT STATS ONS housing output increased by 9.9% in the year to November 2017 (Table 1.2). HBF SURVEY Housing Market Report exclusively presents results from the December 2017 HBF regional survey of home builders (Survey Responses = 147). MONTHLY % DIFFERENCE FOR HOUSING SUPPLY current previous difference -60% Monthly difference % balance of net reservations 2,926 2,882 +1.5% ONS OUTPUT ( m) 171,100 177,800-3.8% PLOTS UNDER CONSTRUCTION 48,800 54,000-9.6% HOMES NEARING COMPLETION *see page 9 for explanation of balances. See Table 2.1 See Chart 1.7 Housing Market Report is an NHBC publication NHBC 2017. NHBC, NHBC House, Davy Avenue, Knowlhill, Milton Keynes MK5 8FP Phone: 0344 633 1000 Fax: 01908 747255. HMR subscriptions: www.nhbc.co.uk/hmr, or call 01908 747255 and ask for 'HMR'. Housing Market Report is prepared using sources that are believed to be reliable. No representation is made that it is accurate or complete. No reproduction without NHBC prior permission in writing. ISSN 2399-5610 (Online)

HOUSING SUPPLY NHBC data shows that in the rolling twelve months to December 2017, private sector housing starts were down by 0.6%, with affordable sector starts up by 2.5%, resulting in a 0.2% increase overall, compared to December 2016. Over the same measurement period, private sector completions were up by 4.5%, affordable completions up by 2.3%, resulting in a 4.0% increase overall. CHART 1.1 NHBC STARTS (UK) Rolling 12 month volumes Source: NHBC Number of Starts 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Private Affordable CHART 1.2 NHBC STARTS (UK) Rolling three months Source: NHBC 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Dec-15 Feb-16 Apr-16 Jun-16 Aug-16 Oct-16 Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Dec-17 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 115,850 116,500-0.6% Private sector starts in rolling 12 months - December 2017 compared to December 2016 36,550 35,650 +2.5% Affordable sector starts in rolling 12 months - December 2017 compared to December 2016 152,400 152,150 +0.2% Combined sector starts in rolling 12 months - December 2017 compared to December 2016 Number of Starts Private Affordable 24,350 24,950-2.4% 8,350 8,750-4.6% 32,700 33,700-3.0% Private sector starts in rolling three months - December 2017 compared to December 2016 Affordable sector starts in rolling three months - December 2017 compared to December 2016 Combined sector starts in rolling three months - December 2017 compared to December 2016 PAGE 2

HOUSING SUPPLY CHART 1.3 NHBC PLOT STARTS COMPARED TO SITE STARTS (UK) Monthly volumes Source: NHBC 1,200 Sites (LHS) Plots (RHS) 25,000 New sites started 1,000 800 600 400 200 0 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 20,000 15,000 10,000 5,000 0 New plots started 200 300-33.3% 850 1,100-22.7% 4,050 4,900-17.3% Sites started this month compared to December 2016 Sites started in rolling three months - December 2017 compared to December 2016 Sites started in rolling 12 months - December 2017 compared to December 2016 CHART 1.4 NHBC PRIVATE STARTS (UK) BY BUILDER SIZE Rolling three months private starts; % year on year growth Source: NHBC 40 Top 10 builders Top 11-50 builders Smaller builders All builders 30 % year on year growth 20 10 0-10 -20-30 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 12,900 13,200-2.3% Top 10 builder s starts year-on-year growth in rolling three months - December 2017 compared to December 2016 7,350 6,350 +15.7% Top 11-50 builder s starts year-on-year growth in rolling three months - December 2017 compared to December 2016 5,800 5,950-2.5% Smaller builder s starts year-on-year growth in rolling three months - December 2017 compared to December 2016 77.8% % of private sector starts from top 50 builders in rolling three months to December 2017 PAGE 3

HOUSING SUPPLY CHART 1.5 NHBC COMPLETIONS (UK) Rolling 12 month volumes Source: NHBC Number of Completions 125,000 100,000 75,000 50,000 25,000 0 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Private Dec-15 Jun-16 Affordable Dec-16 Jun-17 Dec-17 113,750 108,900 +4.5% 33,500 32,750 +2.3% 147,250 141,650 +4.0% Private sector completions in rolling 12 months - December 2017 compared to December 2016 Affordable sector completions in rolling 12 months - December 2017 compared to December 2016 Combined sector completions in rolling 12 months - December 2017 compared to December 2016 CHART 1.6 NHBC PRIVATE COMPLETIONS (UK) BY BUILDER SIZE Rolling three months private completions; % year on year growth Source: NHBC 40 Top 10 builders Top 11-50 builders Smaller builders All builders 30 20 10 0-10 -20 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 % year on year growth Nov-17 Dec-17 17,550 17,150 +2.3% Top 10 builder s completions year-onyear growth in rolling three months - December 2017 compared to December 2016 7,600 6,300 +20.6% Top 11-50 builder s completions year-onyear growth in rolling three months - December 2017 compared to December 2016 7,200 6,950 +3.6% Smaller builder s completions year-onyear growth in rolling three months - December 2017 compared to December 2016 77.8% % of private sector completions from top 50 builders in rolling three months to December 2017 PAGE 4

HOUSING SUPPLY FIGURE 1 THREE MONTH STARTS Top 3 most active local authorities Tower Hamlets South Northamptonshire Uttlesford 11 Local authorities with no starts 71 Local authorities above required start rate of nine or more homes starting every three months FIGURE 2 THREE MONTH COMPLETIONS Top 3 most active local authorities Newham South Norfolk Vale of White Horse 7 Local authorities with no completions 98 Local authorities above required completion rate of nine or more homes completing every three months PAGE 5

HOUSING SUPPLY CHART 1.7 NHBC UNDER CONSTRUCTION (UK) Private and affordable Source: NHBC Plots under construction 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 171,100 166,000 +3.1% Total number of plots under construction compared to December 2016 171,100 177,800-3.8% Total number of plots under construction compared to last month 171,100 Total number of plots under construction by the end of December 2017 CHART 1.8 BREAKDOWN OF PLOTS UNDER CONSTRUCTION By key inspection stage and type Source: NHBC Plots under construction 120,000 100,000 80,000 60,000 40,000 20,000 0 House Flat Pre handover First fix Roof Super structure DPC Foundations No progress in 12 months 48,800 Homes nearing completion in December 2017 70,100 Homes in the early stages of construction (up to DPC) in December 2017-10.8% Number of plots nearing completion compared to December 2016 +13.2% Homes constructed up to DPC compared to December 2016 PAGE 6

HOUSING SUPPLY TABLES TABLE 1.1 PRIVATE HOUSEBUILDING INDICATORS DCLG NHBC Great Britain Actual England Actual United Kingdom Actual Number (000) Annual % change Number (000) Annual % change Number (000) Annual % change 2013 113.6 20.9 98.3 24.0 89.1 19.8 2014 129.2 13.8 110.7 12.6 103.5 16.1 2015 138.2 7.0 120.2 8.6 111.7 8.0 2016 142.7 3.3 126.1 4.9 116.5 4.3 2016 Q2 37.4 4.6 33.0 8.4 32.1 9.9 Q3 38.5 8.8 34.1 10.5 30.1 3.5 Q4 32.9 11.7 28.7 11.2 25.0 4.3 2017 Q1 40.8 20.5 37.1 22.2 29.3 0.0 Q2 41.2 10.3 35.9 9.0 32.5 1.2 Q3 34.8 2.1 29.7-1.3 2017 September 9.7-6.4 October 9.8-8.6 November 9.5 10.4 December 5.1-10.8 Last 3 months 24.3-2.6 Year to date 115.8-0.6 Sources: Department for Communities and Local Government (DCLG); NHBC, Office for National Statistics, Scottish Government Notes: 1. NHBC private housing starts reflect the current sector status of the plot. 2. DCLG private housing starts reflect the sector status at the time the plot was started i.e. Does not make allowances for private stock being sold to RSLs. TABLE 1.2 HOUSING COMPLETIONS Great Britain Actual Number (000) Annual % DCLG ONS NHBC Number (000) England Actual Annual % Great Britain not seasonally adjusted Output ( m 2005) Annual % change United Kingdom Actual Number (000) Annual % change 2013 102.0-1.1 86.7-1.9 19,012 9.4 82.2 4.9 2014 110.2 8.1 92.6 6.8 23,816 25.3 88.9 8.2 2015 128.2 16.4 110.7 19.5 26,277 10.3 101.1 13.8 2016 131.8 2.8 114.0 3.0 29,717 13.1 108.9 7.7 2016 Q2 33.8-0.1 29.4 1.2 7,681 11.0 30.9 6.2 Q3 33.2 10.4 28.9 13.0 7,560 15.0 25.9 10.6 Q4 35.6-1.8 30.5-3.1 7,827 13.1 30.3 0.0 2017 Q1 35.9 23.1 31.3 24.8 7,348 10.5 24.5 12.0 Q2 39.0 15.3 33.7 14.7 8,205 6.8 31.5 2.2 Q3 29.8 3.0 8,065 6.7 25.5-1.4 2017 September 2,668 3.8 9.4-6.2 October 2,882 8.1 9.6 8.4 November 2,926 9.9 12.2 16.0 December 10.5-4.3 Last 3 months 32.3 6.4 Year to date 113.8 4.5 Sources: Department for Communities and Local Government (DCLG); NHBC, Office for National Statistics, Scottish Government Notes: 1. NHBC private housing completions reflect the current sector status of the plot. 2. DCLG private housing completions reflect the sector status at the time the plot was started i.e. Does not make allowances for private stock being sold to RSLs. PAGE 7

HOUSING SUPPLY TABLES TABLE 1.3 REGIONAL PRIVATE HOUSING STARTS - GOVERNMENT Scotland North East North West Yorkshire & Humber West Midlands East Midlands East of England Greater London South East South West England Wales Great Britain Number 2011 9,942 3,125 8,180 7,235 8,356 6,235 12,553 14,044 15,375 11,081 86,184 4,257 100,383 2012 10,489 3,583 9,103 6,618 6,855 6,731 10,490 11,222 13,893 10,783 79,278 4,138 93,905 2013 10,700 4,827 10,594 8,521 9,082 8,355 13,161 13,040 17,864 12,840 98,284 4,572 113,556 2014 12,966 6,053 11,816 12,323 11,250 9,788 12,588 13,941 18,651 14,305 110,715 5,506 129,187 2015 12,607 5,816 12,720 10,371 11,722 10,895 14,846 18,686 20,855 14,314 120,225 5,393 138,225 2016 11,698 7,235 16,902 10,701 12,287 12,165 16,160 13,298 22,146 15,164 126,058 4,980 142,736 Annual % change 2011 11.5-10.6-1.8-11.9-0.1-8.3 8.7 38.2-3.5-2.0 2.4-14.2 2.4 2012 5.5 14.7 11.3-8.5-18.0 8.0-16.4-20.1-9.6-2.7-8.0-2.8-6.5 2013 2.0 34.7 16.4 28.8 32.5 24.1 25.5 16.2 28.6 19.1 24.0 10.5 20.9 2014 21.2 25.4 11.5 44.6 23.9 17.2-4.4 6.9 4.4 11.4 12.6 20.4 13.8 2015-2.8-3.9 7.7-15.8 4.2 11.3 17.9 34.0 11.8 0.1 8.6-2.0 7.0 2016-7.2 24.4 32.9 3.2 4.8 11.7 8.9-28.8 6.2 5.9 4.9-7.7 3.3 Number 2016 Q2 3,348 1,932 3,992 2,798 3,311 3,011 4,008 3,684 5,939 4,300 32,975 1,056 37,379 Q3 3,016 2,245 4,959 3,095 3,189 3,830 4,453 2,346 5,597 4,342 34,056 1,477 38,549 Q4 2,648 1,606 3,947 2,447 2,702 2,538 3,960 2,872 5,493 3,116 28,681 1,604 32,933 2017 Q1 2,575 2,204 4,843 4,521 3,291 3,778 4,852 3,602 6,023 3,958 37,072 1,165 40,812 Q2 3,972 1,897 5,153 3,760 3,349 3,611 4,359 3,988 5,895 3,919 35,931 1,344 41,247 Q3 2,164 4,514 3,465 3,706 3,158 4,648 3,196 5,790 4,118 34,759 1,200 Annual % change 2016 Q2-12.0 28.8 13.7 2.5 3.8 8.7 4.9-13.6 18.4 18.4 8.4-29.3 4.6 Q3-8.3 56.6 39.8 23.4-0.4 33.2 8.2-47.8 19.5 10.1 10.5 9.3 8.8 Q4 6.3 6.4 47.1-0.6 6.7 4.9 31.5-10.9 12.7 1.3 11.2 34.2 11.7 2017 Q1-4.1 51.8 21.0 91.5 6.7 35.6 29.8-18.1 17.7 16.2 22.2 38.0 20.5 Q2 18.6-1.8 29.1 34.4 1.1 19.9 8.8 8.3-0.7-8.9 9.0 27.3 10.3 Q3-3.6-9.0 12.0 16.2-17.5 4.4 36.2 3.4-5.2 2.1-18.7 Source: Department of Communities and Local Government (DCLG), Welsh Assembly Government, Scottish Government PAGE 8

HOUSING SUPPLY TABLES TABLE 1.4 REGIONAL PRIVATE HOUSING COMPLETIONS - GOVERNMENT Scotland North East North West Yorkshire & Humber West Midlands East Midlands East of England Greater London South East South West England Wales Great Britain Number 2011 11,211 3,661 9,263 8,045 6,447 8,964 11,982 8,872 15,298 10,315 82,847 4,750 98,808 2012 9,893 3,720 8,094 8,406 6,224 8,914 11,800 10,508 15,522 11,615 84,803 4,660 99,356 2013 9,965 3,936 9,271 7,591 6,879 8,676 11,772 12,305 16,345 11,547 88,322 4,774 103,061 2014 10,407 3,759 8,409 8,116 7,593 8,470 11,744 11,454 15,174 11,944 86,663 4,885 101,955 2015 12,180 4,491 9,500 8,795 8,416 9,951 12,261 12,122 15,519 11,542 92,597 5,409 110,186 2016 11,917 5,765 11,705 9,101 9,771 11,254 13,962 16,499 18,691 13,920 110,668 5,630 128,215 Annual % change 2011-11.8 1.6-12.6 4.5-3.5-0.6-1.5 18.4 1.5 12.6 2.4-1.9 0.6 2012 0.7 5.8 14.5-9.7 10.5-2.7-0.2 17.1 5.3-0.6 4.1 2.4 3.7 2013 4.4-4.5-9.3 6.9 10.4-2.4-0.2-6.9-7.2 3.4-1.9 2.3-1.1 2014 17.0 19.5 13.0 8.4 10.8 17.5 4.4 5.8 2.3-3.4 6.8 10.7 8.1 2015-2.2 28.4 23.2 3.5 16.1 13.1 13.9 36.1 20.4 20.6 19.5 4.1 16.4 2016 4.1-2.1-0.1 8.7 8.0 8.5 3.1-0.8 1.6 2.1 3.0-4.5 3 Number 2016 Q2 3,078 1,398 2,900 2,548 3,167 2,873 3,426 4,308 4,961 3,841 29,422 1,342 33,842 Q3 2,912 1,332 3,240 2,284 3,154 2,705 3,388 4,562 4,975 3,294 28,934 1,363 33,209 Q4 3,546 1,529 2,952 2,843 3,193 2,815 4,532 3,603 5,214 3,817 30,498 1,537 35,581 2017 Q1 3,212 1,706 3,279 2,871 2,987 2,589 3,598 5,418 5,153 3,738 31,339 1,312 35,863 Q2 3,684 2,108 3,258 2,926 3,132 3,653 4,148 5,050 5,579 3,884 33,738 1,604 39,026 Q3 1,956 3,116 2,754 3,020 2,823 3,661 3,347 5,593 3,530 29,800 1,188 Annual % change 2016 Q2-7.1-5.5-4.9 5.6 7.8 9.4-20.5 16.6 7.6-3.2 1.2-9.1-0.1 Q3-5.8 16.1 10.3 2.1 16.3 23.1 10.1 5.4 23.9 11.7 13.0-1.1 10.4 Q4 13.7 1.6-0.0 13.1-3.3 2.1 15.9-29.2-7.9 1.2-3.1-7.2-1.8 2017 Q1 11.8 23.1 26.1 29.6 11.0 19.7 18.1 39.0 33.9 14.4 24.8 15.6 23.1 Q2 19.7 50.8 12.3 14.8-1.1 27.1 21.1 17.2 12.5 1.1 14.7 19.5 15.3 Q3-46.8-3.8 20.6-4.2 4.4 8.1-26.6 12.4 7.2 3.0-12.8 Source: Department of Communities and Local Government (DCLG), Welsh Assembly Government, Scottish Government PAGE 9

NHBC QUARTERLY STATISTICS Introduction NHBC Quarterly Statistics are derived almost exclusively from our registered builders, who construct around 80% of the new homes in the UK. As such, they represent a unique source of detailed, up-to-date information on new home construction and the house-building industry. A number of important changes have been implemented to ensure consistency of information within HMR. The most significant is a change from reporting home registration volumes to reporting volumes by start date; this affects the old Tables 1 and 2. Another change is to report completions at the point that the home is completed, not at the time that it is recorded on NHBC systems; affecting the old Table 5. We have also taken the opportunity to update all of the counties and regions, so that only current ones are used in the analysis. Note that the statistics in this section also include self-build, whereas the Housing Supply section excludes selfbuild properties. MAP 1 UK NEW STARTS AND COMPLETIONS Comparisons between the starts and completions volumes for each region over the last two twelve month periods are as follows: Scotland Starts +14% Completions -4% North West Starts +2% Completions +12% UK new home starts NHBC starts during Q4 2017 were 3.3% lower than the same quarter last year (Table QS3) North East Starts +2% Completions +6% UK new home completions Q4 2017 housing completions in the UK were 2.7% higher than in the same quarter last year (Table QS7) Northern Ireland Starts +4% Completions +12% Yorkshire & the Humber Starts +6% Completions +8% East Midlands Starts +5% Completions -2% Wales Starts +3% Completions +1% East of England Starts +2% Completions +3% West Midlands Starts +6% Completions +7% London Starts -9% Completions +1% South West Starts -8% Completions -2% South East Starts -4% Completions +10% PAGE Q1

MAP 2 NEW HOME PRICES For new homes registered in Q4 2017, England (+7%) and Wales (+6%) both achieved mean prices higher than the anticipated new home prices for properties that they registered in Q4 2016, whereas Scotland (-3%) prices were lower than anticipated. Northern Ireland (0%) house prices remained unchanged. The change in new home prices over the past twelve months in each UK region is as follows: GB new home prices The average anticipated price of private sector homes registered in Q4 2017 increased by 7% to 327,000 compared to the same quarter last year (Table QS10) The median actual selling price of new private homes in Great Britain during Q4 2017 was 285,000, 6% higher than a year ago (Table QS11) Scotland -3% North West +3% North East +13% Northern Ireland 0% Yorkshire & the Humber +2% East Midlands +4% Wales +6% East of England +5% West Midlands +5% London +20% South West +8% South East 0% PAGE Q2

NHBC QUARTERLY STATISTICS Starts This table shows the number of starts notified by NHBC inspectors for each country by year, quarter and month. Figures from government sources are shown for comparison. NHBC figures show the number of starts up to the end of the quarter immediately preceding publication. TABLE QS1 UK STARTS, ALL SECTORS Year NHBC Starts (000 s) England Wales Scotland Government Starts Great Britain NI England Wales Scotland Great Britain 2006 149.8 7.1 19.0 175.8 9.5 170.6 9.5 28.6 208.7 15.3 2007 134.3 5.7 15.0 155.0 6.2 183.6 10.4 26.2 220.2 13.0 2008 88.1 3.8 10.3 102.2 2.7 106.9 5.8 21.5 134.2 7.4 2009 72.2 2.9 6.1 81.1 2.7 85.6 4.8 19.6 109.9 7.5 2010 94.0 3.8 8.1 105.9 2.7 110.7 5.9 14.5 131.1 7.8 2011 98.5 3.5 9.2 111.2 1.8 112.6 5.1 14.1 131.7 6.5 2012 85.4 3.8 8.6 97.8 1.6 101.0 5.3 14.2 120.5 6.2 2013 108.9 4.1 9.4 122.5 1.8 124.8 5.7 13.1 143.6 4.9 2014 123.6 4.4 10.6 138.6 2.4 140.8 6.6 17.7 165.1 6.5 2015 125.6 4.9 12.6 143.1 3.0 147.7 7.0 16.2 170.9 6.7 2016 133.8 4.4 10.7 148.9 3.1 154.3 6.4 16.1 176.9 7.3 2017 132.3 4.5 12.1 148.9 3.3 N/A N/A N/A N/A N/A Quarterly Breakdown 2015 Q1 32.1 1.2 3.3 36.6 0.7 40.6 1.7 4.4 46.7 1.5 Q2 33.8 1.3 3.5 38.6 0.9 37.4 1.8 4.4 43.6 1.8 Q3 32.5 1.4 3.2 37.1 0.9 37.9 1.8 3.7 43.4 2.0 Q4 27.2 1.1 2.6 30.9 0.6 31.8 1.7 3.7 37.2 1.3 2016 Q1 33.2 1.0 2.6 36.8 0.6 36.4 1.0 4.4 41.8 1.5 Q2 36.5 1.1 3.0 40.6 0.9 40.4 1.4 4.2 46.0 2.0 Q3 34.8 1.2 2.5 38.6 0.9 41.9 1.9 4.1 47.9 2.0 Q4 29.3 1.1 2.5 32.9 0.8 35.5 2.1 3.4 41.1 1.8 2017 Q1 33.6 1.1 3.2 37.9 0.8 45.1 1.5 4.9 51.5 1.9 Q2 37.3 1.3 3.2 41.9 1.0 43.6 1.9 5.0 50.4 2.4 Q3 33.0 1.2 3.0 37.2 0.9 41.8 1.5 N/A N/A 1.7 Q4 28.4 0.9 2.7 32.0 0.7 N/A N/A N/A N/A N/A Monthly Breakdown 2016 Jan 9.0 0.3 0.7 10.0 0.1 Feb 12.4 0.4 0.9 13.7 0.2 Mar 11.8 0.3 1.1 13.1 0.2 Apr 12.6 0.3 1.0 14.0 0.3 May 11.1 0.4 1.1 12.6 0.3 Jun 12.8 0.4 0.9 14.1 0.3 Jul 11.2 0.4 0.7 12.3 0.3 Aug 11.2 0.4 1.0 12.6 0.3 Sep 12.4 0.4 0.9 13.7 0.2 Oct 12.6 0.4 0.9 13.9 0.3 Nov 10.3 0.4 0.9 11.6 0.3 Dec 6.4 0.3 0.7 7.5 0.2 2017 Jan 10.3 0.4 0.9 11.7 0.3 Feb 10.1 0.4 1.1 11.6 0.3 Mar 13.1 0.4 1.2 14.7 0.2 Apr 12.0 0.5 0.8 13.3 0.2 May 12.8 0.4 1.3 14.5 0.4 Jun 12.5 0.4 1.2 14.1 0.3 Jul 11.4 0.4 0.8 12.6 0.2 Aug 10.8 0.4 1.1 12.3 0.3 Sep 10.8 0.4 1.1 12.2 0.3 Oct 11.2 0.3 1.2 12.6 0.2 Nov 11.2 0.4 1.0 12.6 0.3 Dec 6.0 0.2 0.6 6.7 0.1 Notes: 1. All figures relate to starts for both the private and affordable sectors. 2. NHBC starts figures are obtained as follows: when the first inspection of a plot is carried out it is recorded as a start. 3. Government figures are taken from the individual national statistics. NI PAGE Q3

NHBC QUARTERLY STATISTICS TABLE QS2 ENGLISH REGIONS/COUNTIES, STARTS, ALL SECTORS 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 % change Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total rolling 12 month North East Durham 501 536 590 395 2,022 626 502 617 449 2,194 9% Tees Valley 188 218 140 160 706 205 213 215 170 803 14% Northumberland 164 213 311 246 934 272 303 275 249 1,099 18% Tyne and Wear 621 762 682 366 2,431 556 440 683 467 2,146-12% Total 1,474 1,729 1,723 1,167 6,093 1,659 1,458 1,790 1,335 6,242 2% North West Cheshire 780 905 1,075 857 3,617 972 1,092 1,062 967 4,093 13% Cumbria 172 197 173 145 687 170 210 238 143 761 11% Greater Manchester 1,031 1,062 1,318 1,078 4,489 1,114 1,581 1,202 849 4,746 6% Lancashire 696 819 918 713 3,146 677 729 844 625 2,875-9% Merseyside 570 710 654 547 2,481 498 581 624 572 2,275-8% Total 3,249 3,693 4,138 3,340 14,420 3,431 4,193 3,970 3,156 14,750 2% Yorkshire & the Humber East Riding & North Lincolnshire 375 498 451 461 1,785 412 443 551 378 1,784 0% North Yorkshire 405 513 510 424 1,852 519 519 482 568 2,088 13% South Yorkshire 424 432 614 566 2,036 541 490 528 494 2,053 1% West Yorkshire 780 856 1,014 843 3,493 888 1,052 986 847 3,773 8% Total 1,984 2,299 2,589 2,294 9,166 2,360 2,504 2,547 2,287 9,698 6% West Midlands Herefordshire 28 43 89 60 220 39 76 101 89 305 39% Shropshire 332 327 290 262 1,211 246 307 237 143 933-23% Staffordshire 885 972 973 817 3,647 1,017 1,136 1,236 793 4,182 15% Warwickshire 409 622 804 443 2,278 598 804 847 634 2,883 27% West Midlands 933 904 1,221 917 3,975 1,010 1,067 935 679 3,691-7% Worcestershire 417 575 375 365 1,732 346 512 518 432 1,808 4% Total 3,004 3,443 3,752 2,864 13,063 3,256 3,902 3,874 2,770 13,802 6% East Midlands Derbyshire 506 674 645 469 2,294 630 763 592 700 2,685 17% Leicestershire 1,036 908 909 666 3,519 866 978 1,022 815 3,681 5% Lincolnshire 344 495 341 375 1,555 359 470 570 460 1,859 20% Northamptonshire 907 1,010 971 772 3,660 908 819 850 744 3,321-9% Nottinghamshire 517 454 409 325 1,705 468 411 441 396 1,716 1% Rutland 36 27 36 6 105 69 48 57 27 201 91% Total 3,346 3,568 3,311 2,613 12,838 3,300 3,489 3,532 3,142 13,463 5% East of England Bedfordshire 668 792 678 728 2,866 937 825 720 530 3,012 5% Cambridgeshire 614 585 688 533 2,420 897 606 747 761 3,011 24% Essex 1,212 1,549 1,006 920 4,687 1,128 1,112 911 892 4,043-14% Hertfordshire 443 410 626 481 1,960 594 395 436 306 1,731-12% Norfolk 593 750 772 630 2,745 697 796 781 612 2,886 5% Suffolk 331 421 422 310 1,484 436 494 444 358 1,732 17% Total 3,861 4,507 4,192 3,602 16,162 4,689 4,228 4,039 3,459 16,415 2% South West Bristol 53 99 73 96 321 73 125 109 80 387 21% Cornwall 361 526 395 302 1,584 389 518 368 248 1,523-4% Devon 705 966 993 661 3,325 762 737 837 587 2,923-12% Dorset 134 234 215 199 782 290 342 230 192 1,054 35% Gloucestershire 828 1,029 1,430 824 4,111 865 889 934 600 3,288-20% Somerset 647 700 657 682 2,686 737 692 576 456 2,461-8% Wiltshire 678 777 797 576 2,828 687 729 719 587 2,722-4% Total 3,406 4,331 4,560 3,340 15,637 3,803 4,032 3,773 2,750 14,358-8% London Inner London 4,501 4,409 2,444 2,829 14,183 2,720 4,059 1,765 1,909 10,453-26% Outer London 2,713 1,915 1,534 1,303 7,465 1,777 3,262 2,131 2,140 9,310 25% Total 7,214 6,324 3,978 4,132 21,648 4,497 7,321 3,896 4,049 19,763-9% South East Berkshire 762 628 539 805 2,734 854 611 479 491 2,435-11% Buckinghamshire 719 897 711 810 3,137 772 874 742 764 3,152 0% East Sussex 219 224 224 125 792 127 124 173 148 572-28% Hampshire 946 1,192 1,364 1,006 4,508 1,161 1,309 1,096 1,133 4,699 4% Isle of Wight 49 41 48 23 161 30 21 27 24 102-37% Kent 1,264 1,623 1,314 1,197 5,398 1,465 1,156 988 986 4,595-15% Oxfordshire 742 768 710 958 3,178 1,062 866 902 676 3,506 10% Surrey 281 489 480 437 1,687 455 470 631 506 2,062 22% West Sussex 644 770 1,164 620 3,198 642 771 547 682 2,642-17% Total 5,626 6,632 6,554 5,981 24,793 6,568 6,202 5,585 5,410 23,765-4% PAGE Q4

NHBC QUARTERLY STATISTICS TABLE QS3 COUNTRY/REGIONS, STARTS, ALL SECTORS Wales 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 % change Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total rolling 12 month Mid and West Wales 162 127 152 162 603 198 115 152 81 546-9% North Wales 128 127 162 225 642 140 164 74 104 482-25% South Wales Central 251 309 297 266 1,123 337 559 400 307 1,603 43% South Wales East 309 354 459 290 1,412 315 355 357 226 1,253-11% South Wales West 160 138 169 136 603 146 151 180 149 626 4% Total 1,010 1,055 1,239 1,079 4,383 1,136 1,344 1,163 867 4,510 3% Scotland Central Scotland 500 531 470 506 2,007 554 632 595 523 2,304 15% Glasgow 145 245 269 177 836 199 327 178 238 942 13% Highlands and Islands 146 156 150 128 580 140 148 271 195 754 30% Lothian 675 493 597 629 2,394 921 666 751 632 2,970 24% Mid Scotland and Fife 335 416 241 195 1,187 252 290 286 283 1,111-6% North East Scotland 340 416 337 278 1,371 510 493 344 310 1,657 21% South Scotland 153 294 193 244 884 285 264 280 256 1,085 23% West Scotland 300 464 279 366 1,409 339 387 288 302 1,316-7% Total 2,594 3,015 2,536 2,523 10,668 3,200 3,207 2,993 2,739 12,139 14% Northern Ireland Antrim 149 306 218 219 892 208 324 169 168 869-3% Armagh 43 56 107 73 279 68 101 128 60 357 28% Down 204 321 322 293 1,140 279 262 298 236 1,075-6% Fermanagh 16 11 12 6 45 22 19 10 9 60 33% Londonderry 151 118 133 161 563 117 207 174 153 651 16% Tyrone 60 57 64 25 206 70 65 80 24 239 16% Total 623 869 856 777 3,125 764 978 859 650 3,251 4% Isle of Man Total 31 33 7 7 78 47 23 27 25 122 56% Countries England 33,164 36,526 34,797 29,333 133,820 33,563 37,329 33,006 28,358 132,256-1% Wales 1,010 1,055 1,239 1,079 4,383 1,136 1,344 1,163 867 4,510 3% Scotland 2,594 3,015 2,536 2,523 10,668 3,200 3,207 2,993 2,739 12,139 14% Great Britain 36,768 40,596 38,572 32,935 148,871 37,899 41,880 37,162 31,964 148,905 0% Northern Ireland 623 869 856 777 3,125 764 978 859 650 3,251 4% United Kingdom 37,391 41,465 39,428 33,712 151,996 38,663 42,858 38,021 32,614 152,156 0% TABLE QS4 PERCENTAGE OF HOMES STARTED BY REGION 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total North East 4% 4% 4% 3% 4% 4% 3% 5% 4% 4% North West 9% 9% 10% 10% 9% 9% 10% 10% 10% 10% Yorkshire and the Humber 5% 6% 7% 7% 6% 6% 6% 7% 7% 6% West Midlands 8% 8% 10% 8% 9% 8% 9% 10% 8% 9% East Midlands 9% 9% 8% 8% 8% 9% 8% 9% 10% 9% East of England 10% 11% 11% 11% 11% 12% 10% 11% 11% 11% South West 9% 10% 12% 10% 10% 10% 9% 10% 8% 9% London 19% 15% 10% 12% 14% 12% 17% 10% 12% 13% South East 15% 16% 17% 18% 16% 17% 14% 15% 17% 16% England 89% 88% 88% 87% 88% 87% 87% 87% 87% 87% Wales 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% Scotland 7% 7% 6% 7% 7% 8% 7% 8% 8% 8% Northern Ireland 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% PAGE Q5

NHBC QUARTERLY STATISTICS Completions This table shows the number of completions recorded by NHBC inspectors for each country by year, quarter and month. Figures from government sources are shown for comparison. NHBC figures show the number of completions up to the end of the quarter immediately preceding publication. TABLE QS5 UK COMPLETIONS, ALL SECTORS Year NHBC Starts (000 s) England Wales Scotland Government Starts Great Britain NI England Wales Scotland Great Britain 2005 133.8 6.5 18.1 158.4 10.1 159.5 7.8 25.3 192.5 17.1 2006 149.8 6.6 20.2 176.5 9.9 160.8 8.7 25.3 194.8 18.0 2007 122.5 4.8 14.4 141.7 4.9 176.6 9.5 25.7 211.9 14.5 2008 94.2 4.2 9.2 107.7 4.2 148.0 7.5 22.0 177.5 10.8 2009 86.7 3.8 8.5 99.1 3.1 125.0 6.3 17.8 149.1 9.4 2010 97.4 3.9 8.7 110.0 2.8 106.7 5.6 16.7 129.0 8.0 2011 97.4 3.7 8.6 109.7 2.3 113.3 5.7 15.2 134.2 7.0 2012 92.6 3.8 9.6 106.1 2.2 115.6 5.4 14.9 136.0 7.9 2013 102.5 4.3 10.3 117.2 2.5 109.4 5.9 15.0 130.4 7.3 2014 121.7 4.6 11.4 137.7 2.6 117.8 6.2 15.4 139.4 6.2 2015 122.4 4.5 11.6 138.6 2.9 142.5 6.8 16.0 165.3 5.3 2016 128.2 4.6 11.1 143.9 3.3 140.9 6.6 16.0 163.4 6.3 Quarterly Breakdown 2015 Q1 27.3 0.8 2.7 30.8 0.5 34.2 1.4 4.2 39.7 1.1 Q2 33.4 1.4 3.1 37.9 0.7 37.1 1.8 3.9 42.8 1.3 Q3 27.5 1.1 2.5 31.1 0.6 32.2 1.7 4.1 38.0 1.4 Q4 33.5 1.4 3.1 37.9 0.7 39.0 2.0 3.8 44.8 1.6 2016 Q1 24.8 0.8 2.5 28.1 0.7 31.4 1.3 4.0 36.7 1.4 Q2 33.9 1.3 3.3 38.5 0.7 36.2 1.6 4.0 41.8 1.6 Q3 29.1 1.1 2.7 32.9 0.7 35.5 1.6 3.7 40.8 1.5 Q4 34.6 1.4 3.1 39.1 0.8 37.8 2.0 4.3 44.1 1.7 2017 Q1 28.9 0.9 2.5 32.2 0.7 38.5 1.6 4.3 44.3 1.5 Q2 35.2 1.4 3.1 39.7 0.8 41.3 3.9 4.5 49.7 1.6 Q3 28.6 0.9 2.5 31.9 0.8 36.7 1.4 N/A N/A 1.6 Q4 35.5 1.4 3.1 40.0 1.0 N/A N/A N/A N/A N/A Monthly Breakdown 2016 Jan 5.6 0.2 0.5 6.4 0.1 Feb 8.4 0.2 0.8 9.4 0.2 Mar 10.8 0.4 1.2 12.3 0.3 Apr 9.1 0.4 0.9 10.4 0.2 May 10.8 0.3 1.0 12.1 0.2 Jun 14.1 0.6 1.4 16.0 0.3 Jul 8.8 0.3 0.7 9.8 0.2 Aug 9.3 0.4 0.9 10.6 0.3 Sep 11.1 0.4 1.1 12.5 0.3 Oct 10.1 0.3 0.9 11.3 0.3 Nov 12.3 0.5 1.1 14.0 0.3 Dec 12.2 0.5 1.1 13.8 0.3 2017 Jan 6.7 0.2 0.5 7.4 0.2 Feb 8.5 0.3 0.7 9.5 0.3 Mar 13.6 0.4 1.2 15.3 0.3 Apr 8.9 0.3 0.9 10.1 0.3 May 11.5 0.4 0.9 12.8 0.3 Jun 14.8 0.6 1.3 16.7 0.3 Jul 8.9 0.3 0.7 9.8 0.2 Aug 9.2 0.3 0.9 10.3 0.3 Sep 10.5 0.3 0.9 11.8 0.3 Oct 10.6 0.3 0.9 11.9 0.4 Nov 13.2 0.6 1.1 14.9 0.4 Dec 11.8 0.5 1.0 13.3 0.3 Notes: 1. NHBC s figures refer to homes completed in the periods stated. 2. All figures relate to completions for both the private and affordable sectors. 3. Government figures are taken from the individual national statistics. 4. A house registered with NHBC is deemed completed when the NHBC Building Inspector, who carries out key stage inspections during construction, considers that the house has been satisfactorily completed in respect of NHBC s technical requirements. This is normally prior to (but generally signifies that the house is ready for) occupation. NI PAGE Q6

NHBC QUARTERLY STATISTICS TABLE QS6 ENGLISH REGIONS/COUNTIES, COMPLETIONS, ALL SECTORS 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 % change Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total rolling 12 month North East Durham 323 510 421 532 1,786 417 622 478 579 2,096 17% Tees Valley 164 195 186 213 758 138 191 144 210 683-10% Northumberland 128 249 176 273 826 185 247 198 273 903 9% Tyne and Wear 340 580 581 711 2,212 506 599 490 648 2,243 1% Total 955 1,534 1,364 1,729 5,582 1,246 1,659 1,310 1,710 5,925 6% North West Cheshire 678 1,003 645 882 3,208 778 1,003 985 955 3,721 16% Cumbria 183 184 148 146 661 154 171 153 189 667 1% Greater Manchester 943 974 1,080 1,056 4,053 1,071 986 922 1,356 4,335 7% Lancashire 647 682 668 696 2,693 727 877 682 697 2,983 11% Merseyside 427 497 466 529 1,919 504 654 578 592 2,328 21% Total 2,878 3,340 3,007 3,309 12,534 3,234 3,691 3,320 3,789 14,034 12% Yorkshire and the Humber East Riding & North Lincolnshire 259 447 465 402 1,573 447 436 341 490 1,714 9% North Yorkshire 340 442 468 446 1,696 516 572 386 506 1,980 17% South Yorkshire 333 516 436 452 1,737 368 576 504 585 2,033 17% West Yorkshire 593 1,032 803 913 3,341 773 958 710 833 3,274-2% Total 1,525 2,437 2,172 2,213 8,347 2,104 2,542 1,941 2,414 9,001 8% West Midlands Herefordshire 53 32 43 30 158 45 87 64 46 242 53% Shropshire 141 301 306 435 1,183 287 300 245 324 1,156-2% Staffordshire 792 836 769 889 3,286 800 1,056 856 963 3,675 12% Warwickshire 343 561 438 544 1,886 467 624 540 661 2,292 22% West Midlands 907 1,331 846 829 3,913 875 1,163 807 1,106 3,951 1% Worcestershire 433 525 321 518 1,797 400 468 426 493 1,787-1% Total 2,669 3,586 2,723 3,245 12,223 2,874 3,698 2,938 3,593 13,103 7% East Midlands Derbyshire 497 626 406 608 2,137 499 620 510 677 2,306 8% Leicestershire 634 880 876 906 3,296 858 811 813 897 3,379 3% Lincolnshire 352 364 396 349 1,461 385 299 398 374 1,456 0% Northamptonshire 837 957 731 1,100 3,625 811 987 688 847 3,333-8% Nottinghamshire 367 514 506 505 1,892 466 475 382 436 1,759-7% Rutland 32 36 36 45 149 34 23 16 38 111-26% Total 2,719 3,377 2,951 3,513 12,560 3,053 3,215 2,807 3,269 12,344-2% East of England Bedfordshire 485 593 527 735 2,340 434 744 668 725 2,571 10% Cambridgeshire 465 682 563 806 2,516 651 720 553 678 2,602 3% Essex 851 1,003 911 1,016 3,781 932 1,178 913 1,062 4,085 8% Hertfordshire 417 676 416 639 2,148 449 428 454 416 1,747-19% Norfolk 568 568 500 663 2,299 567 681 495 662 2,405 5% Suffolk 250 358 295 384 1,287 370 349 330 371 1,420 10% Total 3,036 3,880 3,212 4,243 14,371 3,403 4,100 3,413 3,914 14,830 3% South West Bristol 71 76 94 101 342 66 91 109 106 372 9% Cornwall 281 485 363 435 1,564 311 416 333 416 1,476-6% Devon 576 995 628 1,017 3,216 603 938 638 894 3,073-4% Dorset 223 241 250 320 1,034 245 222 178 180 825-20% Gloucestershire 572 946 739 1,090 3,347 651 1,156 683 973 3,463 3% Somerset 565 766 559 876 2,766 461 707 599 785 2,552-8% Wiltshire 454 620 496 677 2,247 531 739 543 663 2,476 10% Total 2,742 4,129 3,129 4,516 14,516 2,868 4,269 3,083 4,017 14,237-2% London Inner London 2,362 3,206 2,761 3,452 11,781 3,652 3,238 2,620 4,411 13,921 18% Outer London 1,823 2,636 2,793 2,492 9,744 1,857 2,300 2,028 1,719 7,904-19% Total 4,185 5,842 5,554 5,944 21,525 5,509 5,538 4,648 6,130 21,825 1% South East Berkshire 389 513 434 519 1,855 585 789 621 821 2,816 52% Buckinghamshire 454 664 616 786 2,520 539 772 535 924 2,770 10% East Sussex 158 209 175 213 755 133 195 123 162 613-19% Hampshire 839 1,187 997 1,197 4,220 928 1,274 924 1,441 4,567 8% Isle of Wight 42 52 63 58 215 33 39 43 36 151-30% Kent 898 1,122 1,196 1,104 4,320 920 1,394 1,229 1,203 4,746 10% Oxfordshire 467 815 553 805 2,640 541 839 655 830 2,865 9% Surrey 304 509 349 426 1,588 375 424 433 468 1,700 7% West Sussex 534 739 613 788 2,674 505 782 556 812 2,655-1% Total 4,085 5,810 4,996 5,896 20,787 4,559 6,508 5,119 6,697 22,883 10% PAGE Q7

NHBC QUARTERLY STATISTICS TABLE QS7 COUNTRY/REGIONS, COMPLETIONS, ALL SECTORS Wales 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 % change Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total rolling 12 month Mid and West Wales 115 147 125 216 603 100 206 175 155 636 5% North Wales 105 123 187 187 602 137 151 136 197 621 3% South Wales Central 257 426 322 333 1,338 227 321 161 456 1,165-13% South Wales East 221 362 323 445 1,351 347 521 318 423 1,609 19% South Wales West 132 192 94 188 606 109 170 77 163 519-14% Total 830 1,250 1,051 1,369 4,500 920 1,369 867 1,394 4,550 1% Scotland Central Scotland 457 573 468 576 2,074 460 484 432 684 2,060-1% Glasgow 137 270 263 259 929 280 300 217 226 1,023 10% Highlands and Islands 148 200 161 169 678 139 145 129 135 548-19% Lothian 615 824 602 700 2,741 519 714 615 718 2,566-6% Mid Scotland and Fife 251 319 240 394 1,204 267 358 220 279 1,124-7% North East Scotland 343 501 345 396 1,585 354 548 312 374 1,588 0% South Scotland 198 208 234 254 894 165 232 273 310 980 10% West Scotland 316 413 410 364 1,503 295 323 254 372 1,244-17% Total 2,465 3,308 2,723 3,112 11,608 2,479 3,104 2,452 2,017 11,133-4% Northern Ireland Antrim 182 178 179 187 726 167 224 204 283 878 21% Armagh 65 69 56 55 245 58 73 84 82 297 21% Down 242 213 305 284 1,044 261 309 287 315 1,172 12% Fermanagh 12 8 10 12 42 9 11 16 16 52 24% Londonderry 106 114 104 205 529 126 142 150 228 646 22% Tyrone 46 144 77 78 345 60 55 61 55 231-33% Total 653 726 731 821 2,931 681 814 802 979 3,276 12% Isle of Man Total 33 30 33 27 123 41 36 16 36 129 5% Countries England 24,794 33,935 29,108 34,608 122,445 28,850 35,220 28,579 35,533 128,182 5% Wales 830 1,250 1,051 1,369 4,500 920 1,369 867 1,394 4,550 1% Scotland 2,465 3,308 2,723 3,112 11,608 2,479 3,104 2,452 3,098 11,133-4% Great Britain 28,089 38,493 32,882 39,089 138,553 32,249 39,693 31,898 40,025 143,865 4% Northern Ireland 653 726 731 821 2,931 681 814 802 979 3,276 12% United Kingdom 28,742 39,219 33,613 39,910 141,484 32,930 40,507 32,700 41,004 147,141 4% PAGE Q8

NHBC QUARTERLY STATISTICS Registrations The following tables analyse the number of registrations received by NHBC. A builder is required to register a home with NHBC at least 21 days before building starts. Applications are typically made more than 21 days in advance, although, as an application is accompanied by a fee, prudent builders would not normally make it more than a few weeks before the anticipated start date. After registration, builders may change their minds and decide not to build on a particular plot. TABLE QS8 PROPORTION OF OUTPUT BY SIZE OF BUILDER IN GREAT BRITAIN Year 1-10 units 11-30 units 31-100 units 101-500 units 501-2000 units Percentage of total registrations by companies annually registering 2000+ units Total registrations (000's) 1996 9 8 10 15 20 38 147.9 1997 9 7 10 15 15 43 156.7 1998 9 7 10 13 18 44 149.6 1999 9 7 8 15 16 46 151.4 2000 8 7 7 14 16 49 147.0 2001 8 7 9 13 17 46 146.3 2002 8 7 8 14 14 48 162.6 2003 8 7 8 13 13 50 168.5 2004 8 8 9 14 13 48 173.1 2005 8 7 9 15 18 42 168.3 2006 8 9 9 15 13 47 170.0 2007 7 7 9 16 12 50 191.7 2008 10 8 10 17 25 31 102.4 2009 10 7 9 18 19 37 85.3 2010 8 5 8 13 22 45 113.0 2011 6 4 7 12 23 47 114.3 2012 6 4 6 15 20 49 103.2 2013 5 3 6 13 21 53 133.0 2014 4 3 6 17 17 54 143.7 2015 4 3 5 14 15 59 152.4 2016 3 3 5 12 12 66 148.8 2017 3 2 5 13 14 63 157.1 Notes: 1. The size of a builder is calculated from the new homes registered in the year by the builder, or group of builders where builders have elected to be grouped in the NHBC scheme. 2. Figures are not recalculated for subsequent mergers or acquisitions. 3. The quarterly positions show a cumulative movement towards the year end position and are not directly comparable to previous annual figures. TABLE QS9 NUMBER OF BUILDERS BY SIZE CATEGORY IN GREAT BRITAIN Year 0 units 1-10 units 11-30 units 31-100 units 101-500 units 501-2000 units 2000+ units Total No. of builders on NHBC Register 1996 12,032 5,098 658 283 105 25 12 18,213 1997 11,320 5,199 667 291 107 21 15 17,620 1998 11,179 4,712 618 271 92 23 14 16,909 1999 10,595 4,633 598 245 101 21 14 16,207 2000 10,157 4,313 559 205 101 22 15 15,372 2001 10,044 4,255 567 258 94 23 12 15,253 2002 9,917 4,343 640 250 114 20 13 15,297 2003 10,188 4,421 712 264 112 20 14 15,731 2004 10,631 4,604 799 302 132 22 14 16,504 2005 11,612 4,395 717 296 129 27 10 17,186 2006 11,850 4,566 844 286 118 23 13 17,700 2007 12,197 4,411 745 311 141 22 15 17,842 2008 12,854 3,573 460 181 80 25 6 17,179 2009 11,458 3,261 348 143 68 18 5 15,301 2010 10,270 3,278 311 170 66 24 9 14,128 2011 9,255 2,855 280 136 66 26 10 12,628 2012 8,366 2,480 242 109 72 23 8 11,300 2013 7,626 2,323 249 137 83 30 11 10,459 2014 7,312 2,001 244 159 107 25 11 9,859 2015 6,812 2,003 247 142 98 23 14 9,339 2016 6,524 1,575 215 130 82 20 17 8,563 2017 5,994 1,394 209 134 102 25 18 7,876 Notes: 1. Total number of builders is at end of each year (see note 2). 2. The quarterly positions show a cumulative movement towards the year end position and are not directly comparable to previous annual figures. 3. In the above table, the number of builders on the register is based on each group being counted as one. However, at the end of 2017, the total number of individual builders on NHBC s UK register (including 404 in Northern Ireland) was 9,752 PAGE Q9

NHBC QUARTERLY STATISTICS TABLE QS10 MEAN PRICE OF PRIVATE NEW HOMES REGISTERED ( 000 S) 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Region Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year North East 216 197 202 196 202 212 190 213 222 209 North West 233 221 211 223 221 217 224 226 230 225 Yorkshire and the Humber 220 235 225 228 227 222 223 244 233 230 West Midlands 249 234 263 256 251 251 265 265 269 263 East Midlands 228 250 236 249 241 246 255 260 258 255 East of England 329 331 342 350 338 374 339 347 368 357 South West 267 287 286 285 281 284 312 304 307 301 London 632 618 719 515 624 836 752 601 619 720 South East 350 374 383 400 378 390 387 416 401 399 England 327 326 334 317 326 367 324 318 339 338 Wales 203 216 211 216 211 219 212 243 228 226 Scotland 213 243 249 248 238 237 247 240 240 242 Great Britain 311 317 323 306 314 351 311 307 327 324 Northern Ireland 173 155 172 168 167 172 167 181 168 172 TABLE QS11 MEDIAN PRICES OF HOMES BY REGISTRATION DATE ( 000 S) 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Region Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year North East 180 176 180 185 180 189 198 205 196 195 North West 203 199 211 208 205 212 203 212 214 210 Yorkshire & the Humber 185 200 194 200 195 200 210 210 215 210 West Midlands 200 229 222 223 220 222 236 250 253 238 East Midlands 225 226 230 230 230 230 245 250 243 240 Eastern 280 295 316 315 300 315 330 338 340 328 South West 260 264 268 270 265 278 280 294 295 284 London 500 487 495 510 498 465 515 490 530 496 South East 335 335 340 335 336 355 360 367 346 358 England 268 275 284 280 276 284 295 305 300 295 Wales 196 200 195 198 200 205 203 210 200 205 Scotland 210 213 216 215 215 215 223 232 233 226 Average for Great Britain 260 264 270 270 265 272 282 290 285 282 Northern Ireland 136 136 140 145 139 147 145 150 154 150 CHART QS1.1 PROPOSED PRICE VS ACHIEVED PRICE BY DATE OF REGISTRATION Only homes where both a proposed and achieved price are known are included Source: NHBC Source: NHBC 115% England Wales Scotland Northern Ireland Achieved price as % of proposed 110% 105% 100% 95% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2014 2015 2016 2017 Date of registration PAGE Q10

NHBC QUARTERLY STATISTICS These tables show the percentages of different types of home, registered by country, for the past eight quarters and also for the past five years, by region. Mean prices can be significantly increased as a result of exceptionally high-value homes being included. For each update, the previous figures are recalculated and this can result in some minor changes occurring. TABLE QS12 PERCENTAGE OF HOUSES BY TYPE AND PRICE AT REGISTRATION, BY COUNTRY PRIVATE AND AFFORDABLE SECTOR Percentage of house type in total registrations PRIVATE SECTOR ONLY Mean price of houses in 000 s Country Period Detached Houses Detached Bungalows Semi-detached Houses Terraced Houses Attached Bungalows Flats and Maisonettes Detached Houses Detached Bungalows Semi-detached Houses Terraced Houses Attached Bungalows Flats and Maisonettes England Eng Wales Eng Scotland Eng Great Britain Northern Ireland 2016 Q1 27% 1% 25% 16% 1% 31% 344 304 225 257 171 438 Q2 30% 1% 25% 18% 1% 26% 354 293 233 236 209 445 Q3 28% 1% 27% 17% 1% 26% 355 319 234 250 186 488 Q4 29% 1% 27% 17% 1% 26% 365 348 250 262 199 353 Year 29% 1% 26% 17% 1% 27% 355 314 236 251 190 431 2017 Q1 26% 1% 25% 16% 1% 31% 361 312 249 257 188 570 Q2 28% 1% 25% 18% 1% 26% 362 309 239 228 238 421 Q3 33% 1% 29% 16% 1% 20% 362 319 246 253 248 374 Q4 30% 1% 26% 14% 1% 29% 354 331 257 274 203 436 Year 29% 1% 26% 16% 1% 27% 360 318 248 252 224 462 2016 Q1 45% 1% 24% 18% 0% 12% 251 215 154 145 none 163 Q2 39% 1% 19% 12% 1% 29% 257 294 174 135 124 171 Q3 37% 2% 26% 16% 0% 19% 275 231 157 162 none 108 Q4 42% 1% 23% 20% 0% 14% 264 286 171 158 none 143 Year 41% 1% 24% 17% 0% 18% 262 252 163 153 124 144 2017 Q1 31% 1% 23% 23% 1% 21% 282 211 161 153 none 171 Q2 38% 0% 27% 11% 1% 23% 276 310 161 169 none 130 Q3 35% 1% 22% 19% 2% 21% 310 261 181 183 188 134 Q4 40% 1% 26% 16% 1% 16% 269 267 180 161 102 none Year 36% 1% 24% 17% 1% 21% 285 255 172 167 145 143 2016 Q1 40% 2% 15% 18% 0% 23% 269 226 163 161 178 177 Q2 48% 2% 16% 17% 1% 16% 292 238 192 179 145 153 Q3 52% 2% 15% 12% 1% 17% 293 282 193 181 200 179 Q4 52% 1% 17% 14% 0% 16% 289 256 186 187 194 214 Year 48% 2% 16% 16% 1% 18% 286 247 182 176 175 184 2017 Q1 39% 1% 16% 15% 0% 29% 291 219 187 194 161 197 Q2 48% 2% 17% 18% 0% 15% 304 235 195 181 195 173 Q3 31% 2% 15% 19% 2% 30% 296 230 196 190 184 232 Q4 45% 1% 18% 13% 1% 22% 305 264 188 172 142 178 Year 41% 2% 17% 16% 1% 24% 300 235 192 185 171 199 2016 Q1 29% 1% 24% 16% 1% 30% 330 280 218 241 172 412 Q2 32% 1% 24% 18% 1% 25% 344 285 230 229 190 433 Q3 30% 1% 27% 17% 1% 25% 345 305 229 242 187 464 Q4 31% 1% 26% 17% 1% 25% 348 331 242 251 199 339 Year 30% 1% 25% 17% 1% 26% 342 298 230 240 186 411 2017 Q1 27% 1% 25% 16% 1% 30% 350 297 242 248 186 528 Q2 31% 1% 25% 18% 1% 25% 350 294 232 220 235 395 Q3 33% 1% 28% 17% 1% 21% 355 295 241 241 235 348 Q4 31% 1% 25% 14% 1% 28% 346 321 249 259 187 418 Year 31% 1% 25% 16% 1% 26% 350 302 241 241 216 433 2016 Q1 36% 1% 48% 9% 0% 6% 204 165 145 131 none 125 Q2 31% 2% 50% 7% 0% 9% 190 173 135 140 none 97 Q3 23% 2% 46% 19% 0% 11% 210 141 145 146 114 113 Q4 28% 3% 47% 11% 1% 9% 203 172 144 153 140 212 Year 29% 2% 48% 12% 0% 9% 202 162 142 144 135 133 2017 Q1 30% 2% 49% 14% 1% 5% 216 177 143 140 128 115 Q2 28% 2% 48% 13% 1% 8% 203 174 139 133 122 155 Q3 33% 5% 49% 6% 1% 6% 204 166 146 132 141 91 Q4 25% 1% 43% 18% 0% 13% 205 178 150 138 124 122 Year 29% 2% 47% 13% 1% 8% 207 171 144 136 129 125 PAGE Q11

NHBC QUARTERLY STATISTICS TABLE QS13 PERCENTAGE OF HOUSES BY TYPE AND PRICE AT REGISTRATION, BY REGION PRIVATE AND AFFORDABLE SECTOR Percentage of house type in total starts PRIVATE SECTOR ONLY Mean price of houses in 000 s Region Period Detached Houses Detached Bungalows Semi-detached Houses Terraced Houses Attached Bungalows Flats and Maisonettes Detached Houses Detached Bungalows Semi-detached Houses Terraced Houses Attached Bungalows Flats and Maisonettes North East North West Yorkshire and the Humber West Midlands East Midlands East of England South West London South East 2013 37% 0% 28% 21% 4% 9% 220 188 144 140 135 124 2014 38% 1% 31% 19% 3% 8% 227 244 147 138 109 164 2015 47% 0% 28% 18% 2% 4% 247 211 146 148 120 118 2016 46% 1% 33% 13% 2% 5% 250 238 152 125 158 169 2017 49% 0% 30% 14% 2% 5% 258 254 153 141 154 153 2013 30% 1% 28% 23% 2% 16% 255 214 153 146 122 138 2014 33% 0% 31% 23% 1% 12% 260 234 154 149 138 143 2015 36% 0% 31% 19% 1% 13% 269 260 161 154 162 150 2016 39% 0% 30% 16% 0% 14% 280 286 165 152 151 194 2017 39% 0% 31% 17% 1% 12% 284 238 173 156 154 199 2013 33% 1% 30% 23% 1% 12% 255 225 147 148 150 126 2014 29% 1% 33% 25% 0% 12% 259 185 152 156 166 163 2015 33% 1% 30% 22% 2% 12% 285 189 159 170 269 171 2016 36% 1% 33% 22% 1% 7% 299 277 171 167 134 153 2017 37% 0% 36% 17% 1% 9% 297 227 171 176 260 211 2013 23% 1% 28% 27% 1% 20% 274 230 164 163 175 137 2014 31% 1% 29% 20% 1% 18% 289 260 174 157 224 133 2015 33% 1% 30% 16% 1% 19% 311 236 181 167 159 192 2016 35% 1% 34% 15% 1% 14% 316 274 193 178 186 198 2017 36% 1% 35% 15% 1% 12% 323 311 205 182 246 215 2013 35% 1% 29% 22% 2% 10% 251 195 157 146 152 114 2014 42% 1% 29% 18% 1% 9% 265 218 170 151 197 110 2015 40% 1% 31% 17% 1% 10% 280 239 176 163 133 188 2016 40% 1% 33% 17% 1% 7% 298 235 180 179 137 139 2017 41% 1% 30% 20% 2% 6% 307 280 192 188 164 163 2013 21% 1% 24% 24% 1% 28% 371 271 236 225 226 189 2014 28% 2% 26% 20% 1% 23% 389 287 245 237 172 210 2015 24% 1% 25% 20% 1% 27% 408 279 264 277 183 237 2016 30% 2% 27% 19% 1% 21% 436 313 286 282 190 252 2017 28% 2% 27% 17% 1% 25% 435 325 306 323 245 308 2013 22% 1% 25% 27% 0% 24% 302 319 200 192 232 193 2014 28% 1% 26% 26% 0% 19% 315 282 209 208 183 223 2015 28% 1% 27% 24% 0% 20% 343 333 235 221 222 238 2016 28% 1% 27% 25% 0% 19% 349 312 245 225 240 236 2017 30% 1% 28% 21% 0% 19% 376 309 256 227 307 255 2013 1% 0% 2% 7% 0% 90% 1026 419 573 401 361 561 2014 1% 0% 2% 5% 0% 91% 884 330 565 553 461 622 2015 1% 0% 2% 5% 0% 92% 1046 287 646 690 298 641 2016 1% 0% 2% 6% 0% 91% 906 343 609 592 125 622 2017 1% 0% 3% 5% 0% 91% 780 484 568 669 264 736 2013 20% 1% 23% 25% 0% 31% 520 357 290 273 337 221 2014 22% 1% 22% 24% 0% 31% 503 352 297 290 245 226 2015 25% 1% 24% 22% 0% 28% 508 403 322 309 266 258 2016 24% 0% 27% 19% 0% 29% 503 460 341 337 301 279 2017 25% 0% 26% 18% 0% 29% 521 414 371 354 327 282 Notes: 1. When applying to register a house with NHBC, a builder must estimate its selling price. This table represents mean selling prices at the time of application, modified by expectations. 2. The total registrations for some house types can be relatively small, so short-term movements should be treated with caution. PAGE Q12

NHBC QUARTERLY STATISTICS TABLE QS14 TIMBER FRAME MARKET SHARE AT REGISTRATION Period England Wales Scotland Great Britain Northern Ireland 2007 16% 15% 71% 22% 13% 2008 17% 18% 74% 22% 9% 2009 18% 27% 69% 23% 11% 2010 18% 19% 72% 22% 19% 2011 13% 19% 68% 17% 22% 2012 10% 21% 71% 15% 16% 2013 9% 28% 62% 13% 15% 2014 8% 25% 72% 14% 16% 2015 9% 32% 75% 15% 16% 2016 9% 21% 84% 15% 16% 2017 9% 31% 84% 16% 23% Note: 1. The figures show New build (and Solo prior to October 2015) homes registered for NHBC s ten-year warranty. 2. Nationally NHBC provides warranties on approximately 80% of new homes built in the UK (including the Isle of Man). 3. The figures are sourced from information held on NHBC s Fusion system as at 31st December 2017. 4. Changes can occur between figures published at different times owing to changes in policies and cancellations. 5. NHBC asks the purchaser s solicitor to confirm the purchase price of a house. 6. The total registrations for some regions are relatively small and the differences in the percentage of timber frame units should not necessarily be considered significant. TABLE QS15 TIMBER FRAME MARKET SHARE AT REGISTRATION BY REGION 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 Region Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year North East 0% 0% 1% 2% 1% 0% 0% 3% 2% 2% North West 16% 12% 15% 8% 13% 10% 12% 17% 10% 13% Yorkshire & the Humber 3% 2% 2% 2% 2% 1% 1% 1% 4% 2% West Midlands 11% 5% 8% 11% 9% 11% 12% 12% 9% 11% East Midlands 18% 11% 6% 7% 11% 14% 13% 18% 4% 12% East of England 5% 5% 3% 4% 4% 5% 2% 3% 6% 4% South West 22% 21% 18% 20% 20% 13% 19% 23% 14% 17% London 1% 5% 4% 2% 3% 2% 1% 4% 0% 1% South East 16% 13% 9% 7% 11% 18% 7% 9% 8% 11% England 11% 9% 8% 7% 9% 9% 8% 11% 7% 9% Wales 27% 17% 22% 17% 21% 30% 28% 36% 29% 31% Scotland 81% 89% 83% 82% 84% 75% 89% 82% 90% 84% Great Britain 18% 16% 13% 15% 15% 15% 17% 18% 13% 16% Northern Ireland 16% 12% 24% 8% 16% 20% 26% 21% 23% 23% Note: 1. The total registrations for some regions are relatively small and the differences in the percentage of timber frame units should not necessarily be regarded as significant. TABLE QS16 TIMBER FRAME MARKET SHARE AT REGISTRATION BY HOUSE TYPE IN GB 2016 2016 2016 2016 2016 2017 2017 2017 2017 2017 House type Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Detached Houses 17% 16% 16% 18% 17% 17% 18% 15% 15% 16% Semi-Detached Houses 22% 15% 14% 15% 16% 19% 19% 19% 13% 17% Terraced Houses 23% 18% 15% 15% 18% 18% 20% 25% 19% 20% Detached Bungalows 31% 23% 22% 16% 23% 19% 22% 28% 25% 24% Attached Bungalows 18% 21% 21% 13% 18% 35% 18% 20% 29% 25% Flats and Maisonettes 12% 13% 7% 10% 11% 8% 10% 15% 8% 10% Note: 1. The total registrations for some house types are relatively small and the differences in the percentage of timber frame units should not necessarily be regarded as significant. PAGE Q13