House building applications increase

The number of applications to build new homes has risen by 10 per cent in the three months to the end of April 2009. It was the first quarter on quarter rise in almost two years. However, figures from the National House Builder’s Council (NHBC) show the sector is still depressed with the level of applications down 53 per cent in year on year figures. Imtiaz Farookhi, chief executive of the NHBC, said that anecdotal evidence from house builders and developers suggest that conditions are easing slightly.