Five-year slump in construction activity is a wakeup call

The steepest fall in construction activity since May 2020 is a serious a wakeup call that government announcements on construction have yet to be delivered, says the Federation of Master Builders (FMB) in response to July’s S&P Global UK Construction PMI data

Brian Berry, Chief Executive of the FMB commented:

“The sharp downturn in construction activity undermines the Government’s stated ambition to deliver 1.5 million new homes and upgrade a further five million homes. Positive government policy reforms to speed up the planning system; introduce greater borrowing flexibility; and upskill the workforce are failing to unlock the much‑needed momentum to drive economic growth. Delivery is key which is why July’s plunge should be setting alarm bells ringing across both industry and government.”

Berry continued: “To get Britain building again consumers need greater confidence in the economy. Small building companies are very reliant on consumer confidence which is why the prospect of further tax increases is such a concern. The proposed planning reforms announced in May need to be given absolute priority with a focus on fast‑track approvals for sites of up to nine houses to help small building companies deliver the homes Britain needs.”

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Breaking News

Bristol crowned best area for downsizers

The latest research from over-50s property specialists, Regency Living, has revealed where in England downsizers have the greatest choice of suitable homes to move to and where they face the toughest search based on the availability of suitable stock in the current market. Regency Living analysed current property market listings, looking at the proportion of…
Read More
Breaking News

Kensington tops list of prime London oversupply, but gardens still drive buyer demand

The latest research from Jefferies London has found that Kensington is currently the most oversupplied area of the prime London property market, giving buyers the best chance of negotiating a deal, with more than 2,200 homes listed for sale, accounting for 20% of all prime central stock. Jefferies London analysed current market listings across each…
Read More
Breaking News

Student rental chaos looms as Govt axes fixed-term contracts, agents warn

More than one in three letting agents fear academic lettings cycle will collapse Landlords already pulling out of student market amid Renters’ Rights Bill concerns Alto calls for urgent rethink – as fears mount over voids, admin, and rising rents Letting agents are warning of an approaching crisis in the student rental market just weeks…
Read More
Estate Agent Talk

Feeling BAMBOOzled by that pretty plant triggering neighbourhood disputes?

Bamboo is often pretty to look at in a garden and can be perceived as a nice addition to it. However, do not be deceived by its good looks, as it has the potential to not only cause damage to your home and potentially inflict thousands of pounds’ worth of damage to your property but…
Read More
Estate Agent Talk

The 5 Ultimate Process-Mining Advantages in Data-Driven Decision Making

Organizations create tremendous levels of data daily in the current dynamic business environment. That is not an issue of gathering this data, but how to properly utilize it to enhance the processes, increase efficiency, and make more intelligent decisions. It is here that process mining emerges as a formidable tool for the business endeavouring to…
Read More
Rightmove logo
Breaking News

Rightmove asks government to carefully consider property tax changes

The UK’s largest property platform Rightmove is asking the government to carefully consider the impact of any changes to property taxation to avoid unintended consequences which would risk stalling parts of the market. Key data National property tax Just under a third (30%) of homes for sale in England are priced at over £500,000, and…
Read More