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Building Societies in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Building Societies Market Research Report | SIC K64.192 | Mar 2017

A good foundation: Strong house prices have supported growth despite economic uncertainty in the current year

IBISWorld’s Building Societies market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Coventry Building Society Coventry Building Society market share
Nationwide Building Society Nationwide Building Society market share
Yorkshire Building Society Yorkshire Building Society market share
Industry Statistics & Market Size
Revenue
£15bn
Annual Growth 12-17
1.0%
Annual Growth 17-22
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Profit
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Employment
40,788
Businesses
43
Industry Analysis & Industry Trends

The industry has returned to growth after declining heavily during the financial crisis. Building societies weathered the financial crisis relatively well compared with the banking industry, which required massive government bailouts. This reflects the fact that building societies are more risk-averse. The industry has expanded during the past five years, since government initiatives introduced to stimulate the housing market, low interest rates and rebounding economic conditions have stimulated demand for residential mortgages. Revenue is expected to increase at a compound annual rate of 1% over the five years through 2016-17.

In the current year revenue is expected to grow by 1.5% to £14.7 billion... purchase to read more

Industry Report - Starting a New Business Chapter

The industry is characterised by high and increasing of barriers to entry. Barriers include entrenched branch networks, reputation, loyal consumer bases, increasingly stringent regulatory requirements and access to initial capital.

The vast majority of building societies are well established in their regional markets and have strong ties to the community and its heritage. Consequently, any potential entrant is likely to face great difficulty in competing with existing operators that already have scale advantages regarding branch networks and an extensive consumer base. Fur.. purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Building Societies Industry?

Building societies are cooperative financial institutions that are owned by their members (i.e. their customers, depositors and borrowers). Like banks, they take deposits and provide banking and financial services, particularly mortgage lending. Unlike banks, however, profit is distributed among its members rather than among external shareholders.

Industry Products
Residential mortgagesCommercial loansPersonal loansOther fees
 
Industry Activities
Accepting deposits from membersLending to membersResidential financing (mortgages)


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