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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 2016

Firm foundations: Resurgent house prices and increased construction activity support revenue

IBISWorld’s Building Societies market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Coventry Building Society Coventry Building Society market share
Nationwide Building Society Nationwide Building Society market share
Skipton Building Society Skipton Building Society market share
Yorkshire Building Society Yorkshire Building Society market share
Industry Statistics & Market Size
Revenue
£14bn
Annual Growth 12-17
1.0%
Annual Growth 17-22
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Profit
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Employment
40,566
Businesses
44
Industry Analysis & Industry Trends

The industry has returned to growth during the past five years after suffering steep declines during the financial crisis. Between 2008-09 and 2009-10, revenue almost halved due to collapsing demand for loans, tighter lending standards and falling retail deposits. Nevertheless, 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. However, 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 2.2%... purchase to read more

Industry Report - Industry Analysis Chapter

After declining sharply before the start of the period, the Building Societies industry is expected to expand over the five years through 2015-16. Although industry revenue fell steeply as a result of the financial crisis, the low-risk strategies and narrow focus of most building societies helped the industry weather the storm more successfully than its banking rivals. Industry revenue is expected to increase at a compound annual rate of 2.2% over the five years through 2015-16.

Serious difficulties

Revenue almost halved between 2008-09 and 2009-10 as the industry was hit by falling demand for loans, declining house prices and tighter lending standards. How.. 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 members


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