House Building Slows In Q4

Despite the government’s pledge to boost house building in England, the number of new properties being constructed fell in the final three months of 2018, after remaining broadly flat for the rest of last year.

Figures from the country’s housing ministry show that an eight per cent fall in the number of new homes being constructed was recorded in the final quarter of 2018, compared to the previous three months.

This means the new-build starts in England between October and December last year totalled 40,580. This also represents a two per cent drop in the number of new homes constructed in the same period in 2017.

However, the figures also show that the number of new-build completions were up by two per cent on the previous quarter, and up by one per cent annually.

Overall though, the number of new homes being constructed has remained flat, with no change between 2018 and 2017.

Meanwhile, the latest PMI data for the UK’s construction sector shows that across all areas of the industry activity has been flat. The Federation of Master Builders (FMB) has called on the government to find a way to break the Brexit impasse, which is weighing on the sector.

FMB director of communications Sarah McMonagle described the results as “a reminder of just how vulnerable the construction industry is to political turmoil as confidence among consumers and contractors wobbles”.

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