Industry Analysis & Industry Trends
Buying the family home is the largest lifetime investment for most Britons, and trends in housing investment have huge implications for the economy and fiscal and monetary policy. The national housing market has changed considerably from decades ago, when three-quarters of households rented from private landlords. Home ownership has since increased to about 70%. Britons aspire to own a home because it can deliver both financial and emotional security.
The number of new housing starts declined from a peak of 233,890 units in 2005-06 to a trough at 111,440 units in 2008-09. Despite an upward trend in the past few years, housing starts are expected to remain low at 132,500 units in 2011-12. The value of total housing construction peaked at £50.8.. purchase to read more
Industry Report - Industry Analysis Chapter
The late 2000s exposed the Residential Building Construction industry to the worst housing investment conditions in decades. The UK economy was ravaged by severe recession, the financial crisis tightened liquidity and housing starts tumbled to the lowest level in over 60 years. Despite the rallying of housing trends in 2010-11, the industry continues to languish at levels well below the 2007-08 record peak. In order to survive, the larger housebuilders have trimmed their operating costs, divested property holdings, streamlined structures and closed underperforming branches. Many of the industry's smaller independent contractors have been forced out of business by the slump, with the size of the industry falling by about 4,400 firms since 2007-08... purchase to read more