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24 October 2012

UK house building slump continues

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by Gill Montia

UK house building slump continues

Activity in the UK house building sector continued to fall in the three months to September, according to the latest construction market survey from the Royal Institution of Chartered Surveyors (RICS).

Surveyors reported decreases in both public and private housing projects, the sector having failed to see any significant growth in almost five years.

Across the UK, all areas remained in the doldrums in the last quarter, with the exception of the Midlands.

RICS chief economist, Simon Rubinsohn, comments “Without doubt, housebuilding is continuing to struggle and last quarter was predictably difficult for construction firms.”

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