Hotkey for Creating New Folder in Windows Explorer

Have you ever wondered if there is a hotkey to create a new folder in Windows Explorer? A conversation with MysticGeek last night prompted me to look into this, and so I’m posting the answer for everybody.
Update: We’ve added in the instructions for Windows 7, where it’s really easy to do.
There’s actually a couple of solutions to this problem: You can use the built-in accelerator keys, or download and install a small freeware app called bxNewFolder to assign the hotkey.
New Folder Hotkey in Windows 7
Windows 7 natively includes a shortcut key combination to create a new folder: Ctrl+Shift+N Simply use this shortcut key anywhere in Windows Explorer, and a new folder will be instantly created:

Using the Keyboard Accelerator Keys
You can use the keyboard accelerator keys: Alt+F to bring up the file menu, and then for the New menu, and then for new folder. So your shortcut key sequence ends up being F+W+F with the Alt key held down. (Try it out)

I’ve found that this works pretty well once you get used to it, and it doesn’t require any additional software.
Install bxNewFolder
This freeware plugin uses F12 as the new folder hotkey, which unfortunately isn’t changeable. If you are using this in Windows XP, you’ll get the benefit of the new toolbar button that it adds, though. There’s no visible UI in Windows Vista, but it works perfectly.
To install this properly, you need to close all Windows Explorer windows and then choose Run as administrator from the right-click menu.

 Once installed, it should immediately start working… just hit F12 to open the new folder dialog. If you hold down the Shift key and hit enter after typing the folder name it will immediately navigate into the folder, which I find very useful.

 In Windows XP, you’ll also get a New Folder button.

You’ll have to scroll nearly to the bottom of the page to find the installer download.
Download bxNewFolder from Baxbex.com