January saw the lowest level of construction work in almost a year, as ongoing economic uncertainty and heavy rain blighted the industry, according to official statistics. The value of work across all construction sectors for the month was £14.8bn, a 1.7% fall from December 2022, the Office for National Statistics (ONS) reported. The last time […]
Up to 77,000 fewer new homes are likely to be built a year for the rest of this decade, slumping to the lowest level since the second world war, according to a new report. Lichfields’ Making a Bad Situation Worse, calculates by 2030 more than a million fewer homes will have been built than anticipated […]
Latest research from Savills reveals that, in the face of continuing challenging economic headwinds, the sales performance of new build developments in the ’20 minute neighbourhoods’ of Scotland’s largest cities remains strong. Such locations are being promoted as part of Scottish government’s national planning policy (NPF4) which was adopted on 13th February. The policy takes […]
Taylor Wimpey’s full year revenues rose 3.2% to £4.4bn. This was driven by higher average selling prices which rose 4% to £313,000. Operating profits increased from £828.6m to £923.4m, a record figure for Taylor Wimpey. This was helped by tighter cost controls and a reduced spend on new land as the group reacted to lower […]
Persimmon, one of the UK’s largest housebuilders, has released its final results to 31 December 2022: Underlying operating profit up 4% year on year to over £1bn Forward sales position reflects the significant drop in private sales rates experienced in Q4 2022 to 0.30 (Q4 2021: 0.77), although the group states that cancellation rates have reverted […]
City & Guilds and EAL, the specialist awarding organisation for manufacturing and engineering, have launched a new suite of construction and building services engineering qualifications in Wales. These qualifications have been carefully developed to not only prepare individuals for working in these sectors, but to also better meet the industry skills. City & Guilds and […]
The national property consultancy Naismiths has expanded its monitoring division by 13% to assemble the largest team of qualified monitoring surveyors in Britain. Founded six decades ago and with offices across the country, Naismiths saw demand soar in 2022 for its monitoring team, which works for banks and development lenders by serving as their ‘eyes […]
Workloads and enquiries grew in the final quarter of 2022 for roofing and cladding contractors, according to the latest State of the Roofing Industry survey from NFRC and Glenigan, but firms are still grappling daily with high energy, labour and material prices, skills shortages, and late payments, leading to increased tender prices. The results of […]
As reported by Opus LLP, the UK construction market has long-established weak points in its various business models. Many of its sub-sectors suffer from being volume-driven and overly-competitive, plagued by lowball pricing. The prevalence of fixed price contracts in a time of rampant cost inflation is having serious implications for profit margins that were already […]
Research from eXp UK, the independent estate agent platform, has revealed that while the North-South house price divide remains considerable, the gap has started to close, driven by higher rates of house price growth seen across the North during the pandemic property market boom, as well as growing market sentiment as a result of the […]
