Friday, April 3, 2009

Private housing starts plunge 72% in latest NHBC figures

Private housing starts for the three months to the end of February 2009 have plunged 72% against the same period last year, according to the latest National House Building Council figures.

Other gloomy findings from the NHBC statistics for the three months from December 2008 to February 2009 include:

Across the combined private and public sectors, the NHBC received 14,537 new home applications - 59% down from the same period a year ago (35,733). New build completions in the combined private and public sectors totalled 26,918 - 32% lower (39,499). The average number of daily sales of new homes in the UK was 333 - a drop of 37% (525).

NHBC chief executive Imtiaz Farookhi said: "With the number of applications to start new homes in the public sector remaining broadly consistent in recent months, our statistics suggest that house builders are increasingly relying on public sector work in the downturn. 

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Private housing starts plunge 72% in latest NHBC figures

 

"However, with public spending continuing to be squeezed, much greater intervention is required to increase building in the private sector, in particular encouraging private sector house builders to participate in joint delivery schemes, such as those proposed by the Homes and Communities Agency."  






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