Private housing starts increase 40% in three months to July
Construction starts are down a third on last year, according to the latest data from Glenigan.
The August edition of the analyst鈥檚 construction review showed the project starts in the three months to the end of July were also 10% down on the preceding period.
Main contract awards contracted by 24% on the preceding period and were a third down on 2022.
Glenigan鈥檚 Economic Director, Allan Wilen, said that 鈥渁s global and national disruption continues鈥� clients would likely 鈥渁dopt a cautious approach, pushing back start dates until the economic landscape looks less hostile鈥�.
鈥淪hort term, changing Government priorities in the run-up to the General Election are also likely to slow investment in major infrastructure projects, halting activity further,鈥� he added.
Regionally and sectorally, there were few exceptions to this picture of decline.
The South West and East Midlands performed reasonably well against the preceding quarter, with underlying project-starts advancing 9% and 3%, respectively.
Private housing starts increased 40% during the three months to the end of July but were still 26% down on 2022 levels.
鈥淩esidential construction offers a glimmer of hope,鈥� said Wilen. 鈥淚ncreases in private housing starts [are] helping to offset sluggish activity in this sector vertical鈥�.
Meanwhile, the commercial office sector posted one of the worst performances, suffering a 35% fall on the previous period and down 50% on last year.
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