House-Building Growth Accelerates in 2017

Story posted: 11.05.17

House-building plans in the UK has hit a 10-year high during the first four months of 2017. Registrations with the National House-Building Council (NHBC) has seen a 17% rise of payments by homebuilders for insurance on projects before construction commences. 

The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) also rose to 53.1 from 52.2 in March.

The housing sector is still a hot political topic as the UK gears up for the June 8 national election, with both main political parties pledging to help people struggling to buy home as property prices have risen strongly in recent years as demand for housing outstrips supply.

The NHBC said, “…157,898 new homes were registered for construction in the financial year ending in March, 4% higher than 2015/16 but still 1000 shy of the long-run historical average but still indicating tentative signs that the economy might be recovering a little momentum.”

Official data released this week showed construction companies took on workers at the fastest rate since last May to help cope with an influx of new orders.

Taylor Wimpey commented, “…it is optimistic that the British general election will not disrupt positive market sentiment, provided that no major policy changes are announced.” 


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