New housing starts at lowest level since 1924
Monday, December 15, 2008
Homebuilding in Britain has fallen to a 84-year low as falling house prices and dwindling numbers of buyers hit construction firms, a new report shows.
Some 135,000 private houses were started this year, down from 203,500 last year, figures from the Construction Products Association and Ernst & Young show.
It is the lowest number of housing starts during peace time since 1924, when housebuilders started work on 87,000 properties.
There are fears that housebuilding could grind to a virtual halt in the new year as more housebuilders stop work. Several large construction groups have postponed starting new projects as they try to drum up buyers for existing completed homes.
Article continues at Times Online
Some 135,000 private houses were started this year, down from 203,500 last year, figures from the Construction Products Association and Ernst & Young show.
It is the lowest number of housing starts during peace time since 1924, when housebuilders started work on 87,000 properties.
There are fears that housebuilding could grind to a virtual halt in the new year as more housebuilders stop work. Several large construction groups have postponed starting new projects as they try to drum up buyers for existing completed homes.
Article continues at Times Online
Labels: Construction, Housebuilders, uk housing
