UK
Ireland
Scotland
London
Construction News
03/10/2014
Value Of UK Housing Projects Falls
The value of UK housing projects starting on site has dropped for the first time in 18 months, according to the latest figures from construction analysts Glenigan.
The Glenigan Index for October rose by 2% compared to a year earlier. However the underlying value of residential starts fell by 6%.
Private housing project starts increased by just 1% in the third quarter of the year, compared to the same period in 2013. This, combined with a 17% fall in social housing starts, dragged the Glenigan Residential Index into minus figures for the first time since April 2013.
The figures follow the release of the latest Nationwide House Price Index on Tuesday which reported a 0.2% drop in UK house prices in September, fuelling fears of a property market slowdown.
Allan Wilén, Economics Director at Glenigan, said: "Despite signs that the breakneck growth in house prices and purchasing activity is easing, market conditions remain positive for house builders.
"Signs of a stabilisation in new project starts underlines the challenge the government faces in meeting housing need."
(CD/JP)
The Glenigan Index for October rose by 2% compared to a year earlier. However the underlying value of residential starts fell by 6%.
Private housing project starts increased by just 1% in the third quarter of the year, compared to the same period in 2013. This, combined with a 17% fall in social housing starts, dragged the Glenigan Residential Index into minus figures for the first time since April 2013.
-- Advertisement --
The figures follow the release of the latest Nationwide House Price Index on Tuesday which reported a 0.2% drop in UK house prices in September, fuelling fears of a property market slowdown.
Allan Wilén, Economics Director at Glenigan, said: "Despite signs that the breakneck growth in house prices and purchasing activity is easing, market conditions remain positive for house builders.
"Signs of a stabilisation in new project starts underlines the challenge the government faces in meeting housing need."
(CD/JP)
Latest Construction News
17/01/2025
Leeds Trinity University has officially opened its newly refurbished City Campus at 1 Trevelyan Square in Leeds.
Completed by GRAHAM Interior Fit-Out, the transformation of the central Leeds site introduces state-of-the-art facilities designed to improve learning and collaborate with industry partn
17/01/2025
Trammell Crow Company (TCC) has secured planning permission for a Grade A logistics scheme in Heywood, Greater Manchester, following a successful planning appeal.
The development will feature two state-of-the-art industrial and logistics buildings. One building will house two units measuring 4,796
17/01/2025
Poole-based developer AJC Group has celebrated a record-breaking 2024, delivering 100 affordable homes, a significant increase from the 72 units completed in the previous year.
Since 2023, AJC Group has completed and handed over 172 affordable homes across five sites.
In 2024 alone, the developer
17/01/2025
Plans for one of the most ambitious parks projects in London have taken a significant step forward, with Haringey Council securing nearly two additional acres of land around The Paddock nature reserve in Tottenham Hale.
The agreement with Thames Water marks a major milestone in the transformation o
17/01/2025
Islington Council has unveiled two draft guidance documents aimed at helping residents, businesses, and developers combat climate change by making buildings more energy efficient and fostering a greener, healthier borough.
The consultation seeks feedback on the draft Climate Action Supplementary Pl
17/01/2025
The City of Wolverhampton Council has unveiled a £98 million investment plan over the next five years to develop around 500 new homes across the city.
The proposal, part of the Housing Revenue Account (HRA) Business Plan, received Cabinet approval this week and now moves to Full Council for final
17/01/2025
Croydon Council has announced a significant milestone in the redevelopment of the Purley Pool site, with revised proposals submitted for a new leisure centre, later living housing, and the regeneration of the surrounding area.
A planning application for the site was initially submitted in 2024, pro
17/01/2025
The City of Wolverhampton Council has announced that demolition work has commenced on the New Park Village estate, marking the start of a major £40 million redevelopment project to transform outdated council housing.
Contractor DSM Demolition has begun pulling down poor-quality bungalows on Valley
17/01/2025
Hillingdon Council has acquired 12 new homes at Carpenters Court in Uxbridge.
Leader of Hillingdon Council, Cllr Ian Edwards and Cllr Steve Tuckwell, Cabinet Member for Planning, Housing and Growth, visited the site to officially mark the handover of the properties from local developer Kearns Devel
17/01/2025
Organisers of UK Construction Week (UKCW) have announced another major coup for the show's 10th anniversary year, with the news that UKCW London will be co-locating with the 14th edition of The Stone Show & Hard Surfaces, the principal industry event for surface design.
Established 26 years ago, th
