House building has been gathering pace over the last year, and many regions have seen new home starts and completions on the rise over the last year. However the uncertainty caused by Brexit has led the London market in particular to fall back, and nationally building continues to fall short of the governments’ 200,000 a year target.
The National House Building Council, which represents 80% of new homes market suggests under 145,000 new homes were completed in the year to the end of September 2017, although they anticipate there are 177,950 plots currently under construction.
With a new methodology from the government indicating that 266,000 new homes are required each year to meet demand, housebuilding is set to be a centrepiece of the Chancellor’s budget on 22nd November, with new money and reforms to the planning system expected to feature.
The Budget may well look to also incentivise the UK’s construction industry, which has faced increasing pressure since Brexit vote. Share prices among the UK’s main housebuilders fell marginally following the 0.25% interest rate rise but may well rise again after November 22nd.
Blog Post Disclaimer
This is a personal blog. Any views or opinions represented in this blog are personal and belong solely to the blog owner and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual.
All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.
Downloadable Files and Images Any downloadable file, including but not limited to pdfs, docs, jpegs, pngs, is provided at the user’s own risk. The owner will not be liable for any losses, injuries, or damages resulting from a corrupted or damaged file.
Comments Comments are welcome. However, the blog owner reserves the right to edit or delete any comments submitted to this blog without notice due to :
- Comments deemed to be spam or questionable spam.
- Comments including profanity.
- Comments containing language or concepts that could be deemed offensive.
- Comments containing hate speech, credible threats, or direct attacks on an individual or group.
The blog owner is not responsible for the content in comments.
This blog disclaimer is subject to change at anytime.
If in considering action upon the contents of this blog, one should always seek professional advice.