SME builders are lobbying the government to hold off scrapping the tax rebate on red diesel due to the war in Ukraine. Lack of electrically powered machinery, biofuel and a shift in prices due to sanctions against Russia will mean huge cost increases when the rebate is removed on 1 April. Contractors have said they […]
Research by real estate debt advisory specialists, Sirius Property Finance, has shown that the average cost of construction for a new-build property is set to climb by almost £18,000 per unit, a jump that could cost UK housebuilders £3.2bn per year. The research by Sirius Property Finance shows that the current average cost of constructing […]
New home registrations showed a year-on-year increase of 25% to 153,339 for 2021, according to the National House Building Council, NHBC. The sector saw a significant rebound following 2020’s eight-year-low of 122,935 registrations. New home completions also showed a significant uplift in 2021, increasing by 21% to 139,333 compared with 2020’s 115,561. NHBC chief executive […]
Chartered Accountants Wylie & Bisset has warned the construction sector against a perfect storm of economic challenges putting pressure on their cashflow. Mark Mulholland, partner in the firm’s Business Advisory department, advised those smaller to medium sized construction firms that typically wait until projects are complete before raising an invoice review this practice in view […]
The construction industry is waiting with bated breath to see if Stuart Andrew – the eleventh new housing minister in 12 years – will embrace SMEs as a vital tool for building more homes. Deputy chief whip Stuart Andrew, who grew up on a North Wales council estate, assumed the role yesterday in the prime […]
Business activity in the UK construction sector saw an uptick for the twelfth consecutive month in January. The rate of growth also picked up on the previous month reaching a 6-month high, according to the latest PMI data by IHS Markit and CIPS. Optimism was the strongest since May 2021 and largely reflected increasing tender […]
A swathe of councils could follow two Hertfordshire authorities who rejected their local plans in the wake of the government’s decision to reverse proposed planning reform. The construction industry fears Conservative-run Hertsmere and Welwyn Hatfield borough councils’ move to revise their local plans because too many homes were to be built on green belt land […]
A £1.5bn home building fund offering loans to SMEs to help them deliver 42,000 new houses across the country has received a lukewarm response from the construction industry. The National Federation of Builders, NFB, has said the loan scheme would only be of any use if smaller housebuilders could borrow prior to gaining planning permission. […]
The UK’s second biggest brick maker Forterra warned of further price hikes this year in its latest trading statement. The company said it was reviewing costs before deciding whether to charge more following double-digit increases over the last few months due to higher energy costs. Chief executive Stephen Harrison said: “We remain watchful of further […]
The capital’s mayor Sadiq Khan is pressing the government to create a new 12-month visa for construction workers so London can meet its goal of 66,000 new homes a year. Mr Khan warned there is a risk affordable homes targets will be missed because building firms can’t find staff in the wake of Brexit and […]
