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 Locations Chapter
The geographic spread of industry establishments closely corresponds with the spread of the population, business activity and the number of housing starts commissioned in the United Kingdom.
London accounts for 18.7% of industry establishments, which is higher than its share of the UK population. Since it is densely populated, demand there is usually stronger than in other parts of Britain and it has been a magnet for wealthy foreign investors seeking a safe investment in the aftermath of the economic downturn. Average house prices in London reached over £500,000 during the course of 2015, even though homes there are often considerably smaller than those in other parts of the country. Dem.. purchase to read more