New figures create confusion over state of housing market

New figures this week revealed the housing industry is reportedly in chaos as new residential construction starts are 31% lower this year, compared to 2010.

Research from construction analyst Glenigan into the state of the housin g market found that 31% fewer new starts will undertaken in the first few months of this year, compared to the same period a year ago.

They found that private housing starts were down 32% and social housing projects fell by 23% in the first few months of 2011.

Not good at all, even when we are in the midst of a recession. The housing and construction industry is going through a rough time at the moment, just like any industry, as no sector has managed to survive the recession unscathed. But there is hope on the horizon.

The Homes and Communities Agency, the government’s housing body, has this week announced that they have beaten their targets for new homes for the last year, beating their targets by a huge 65 per cent.

The HCA started work on 57,605 new homes in the UK last year, which was way up on their targets of 34,982 new homes.

In other positive news for the housing industry, new research indicates that planning approval for commercial property is on the rise, with 16% more schemes given planning consent over the last few months.

The study, which was undertaken by commercial law firm EMW, found that more major commercial property developments were approved over the last year. 531 planning applications were approved, up from 459 a year earlier.

And with Housing Minister Grant Shapps’ plans to build more new homes by selling off public land set to happen over the next few months, it could lead to a major upturn for the fortunes of the housing market. With the proposals set to create thousands of new jobs to boost the building of new homes, there could soon be brighter times ahead.

What do you think – what is the current state of the housing industry and when will it improve? Let us know by commenting on here, or on the Train4TradeSkills Facebook and Twitter pages.

 

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Posted on June 14, 2011, in construction jobs, construction news, train4tradeskills and tagged , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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