Industry Analysis & Industry Trends
The Residential Building Construction industry has grown relatively strongly over the past five years, though revenue has not yet surpassed its pre-recessionary peak. Prior to the start of the period, revenue dropped sharply as tight lending criteria and dwindling home equity made it difficult for many people to obtain mortgages, meaning demand for housing dropped. Since then, demand has soared as economic conditions have improved. Continuous growth in house prices has boosted demand for renovations and repairs, while the construction of new homes has only been limited by supply constraints, in particular a lack of suitable land for building and a dearth of skilled labour... purchase to read more
Industry Report - Industry Analysis Chapter
Contractors in the Residential Building Construction industry have benefited from a strong period of growth in recent years. Prior to the start of the period, low demand for housing and the difficulties faced by buyers and construction firms when trying to obtain credit caused a significant contraction in revenue. However, government measures to support the housing market have stimulated construction activity, while constraints on the supply of housing have pushed up prices. These factors have supported revenue growth since 2012-13. Industry revenue is expected to increase at a compound annual rate of 4.2% over the five years through 2016-17 to reach £50.9 billion.
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