Drop in housing starts a “wake-up call”

June 1, 2008
Latest housebuilding statistics for the first quarter of the year show the extent of the impact on production of the industry downturn. NHBC figures show the number of applications from housebuilders to start new homes, 37,839, had fallen by almost a third year-on-year during the first quarter. <br><br>Of that total, just 29,137 were private sector starts – a 34% year-on-year decline. Housing associations applications also fell, although the 8,702-unit total was down by just 11% on the same period in 2007. NHBC chief executive Imtiaz Farookhi commented: “The figures for the first quarter clearly reflect a toughening market. The biggest decreases in new home starts were seen in Northern Ireland and the north east, where figures showed a year-on year decrease of 65% and 60% respectively for the quarter.” <br><br>Figures from the department for Communities and Local Government (CLG) for the first quarter tell a similar story. The survey show that starts during the quarter of 2008, 32,144, were down by almost a quarter on last year and down 21.5% on the last quarter of 2007. HBF executive chairman Stewart Baseley commented: “These figures are a stark wake-up call to government, with clear implications in the short term for the …

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