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Uk Construction Output Shrinks 2.8% In February

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Output in the construction industry fell sharply in February as extreme weather halted work on building sites, official figures have shown.

Output fell by 2.8% - £270m - compared with a month earlier, the Office for National Statistics (ONS) said.

But in the three months to the end of February, construction output grew 0.3% compared with the previous quarter.

Despite signs of improvement, the construction industry remains 13.2% below its pre recession peak.

The ONS said the heavy rain and flooding that marked the wettest winter on record had caused delays in building work.

It added that repairs of flood damage had not yet filtered through to its data.

It can only mean property prices are going to go up as supply drops....

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February was too wet for outside building work!

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I had an email from Rightmove [partners] earlier today advertising new build properties in the area. They actually looked fairly good value [compared to used stock] about £240k for a new B rated 4br detached with garden, parking and garage.

There is lots of used boomer stock around for that price (240k) which needs updating. Why not get a new build for that price.

From my observation building in Brittan is booming on an Irish levels - we may have had one down month, but the next 12 will be up months with Cameron's subsidy behind it all.

The 3br semi's they are offering are not such good value at about £190k, but I think that's where they are making most of the money and infact help-2-buy is subsidising the larger detached houses to a degree.

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  • 406 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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