Sunday, February 24, 2008

Housebuilding collapsing in front of our eyes

New housing sales collapse by 36% as starts fall by 39%

Housing starts were 39% lower at the start of 2008 than the previous year, figures obtained exclusively by Building have revealed. This news comes on the back of Kleinwort Dresdner's advice suggesting "It's payback time for builders" as they issued investment advice to all their institutional investment clients to 'dump' housebuilder stocks without delay. Research by the NHBC showed that there were 9,135 construction starts in January 2008, compared with 14,998 in the first month of 2007. The average number of new homes sold a day dropped to 550, 36% lower than the year before.

Posted by converted lurker @ 03:12 PM (873 views)
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3 thoughts on “Housebuilding collapsing in front of our eyes

  • it_is_going_with_a_bang says:

    I see, so when Gordon Brown promised to built all those homes what he actually meant was someone else would do it.
    Surely Local Housing associations should be building these homes on behalf of the Local Council and it’s requirements.
    There is plenty of demand for social housing so I say build it. But I guess that would damage the ‘private sector’ market quite substantially.
    If Gordon can’t deliver on his promises get someone else who can.

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  • planning4acrash says:

    Government could lead an affordable housing drive, if Crash Gordon hadn’t run down the country’s finances during the boom!

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  • speculatorone says:

    GB seems to be keeping a low profile of late, I wonder why?

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