Construction insurance specialist, CRL, reports a 20% year-on-year increase in the number of new builds registered with it in the UK and Ireland in the twelve months to end September 2017.
This increase is across almost all sizes of build, from single units to medium-large builds (up to 50 apartments or houses) with the latter category increasing by 73% compared to the previous twelve months. The sharp rise in new registrations is most pronounced in Scotland (125% increase), in the East Midlands (66%) and the East of England (62%). The only notable regional drop was in the South West (4%).
This news follows the announcement that CRL has strengthened its partnership with its insurance carrier, Alpha Insurance, with enhanced limits. This reflects CRL’s twin ambitions of focusing on its core market of SME builders and developers, and expanding its remit to the largest housebuilders in the British Isles.
Steve Mansour, CEO of CRL commented:
“The rise in new builds is exactly what the country needs. Our data shows that the construction industry is getting into gear and starting to tackle the housing crisis. If our statistics are indicative of a new trend, this is a major news story.
“It’s vital that businesses such as CRL continue to provide efficient and effective services to enable builders and developers of all sizes to build the homes we desperately need throughout the country. It’s particularly encouraging to see that growth is spread right across the British Isles. Strengthening our partnership with Alpha Insurance will benefit both new and existing customers.”