An Executive Digest of the Industry: U.K. Homebuilding Market Growth in 2010

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U.K. Homebuilding Market Growth in 2010

The UK housebuilding market will rise by 154,000 homes in 2010, according to a new report from MTW Research, though housebuilder expenditure remains under tight control as social housing investment slows and business confidence returns slowly.

PR Log (Press Release) – MTW Research - Apr 09, 2010 – Based on industry sales, the new report identifies a growing optimism amongst housebuilders in April 2010, with house prices stabilising in the first quarter of 2010 and demand returning as the mortgage market eases and lending increases. Sales of new homes will exceed £25 billion in 2010, according to MTW, with the housebuilding industry forecast to grow sales to more than £29 billion in 2011 as the UK economy gathers strength.

The social housing market has underpinned the housebuilding industry during the last 2 years, with new affordable housing built for housing associations now accounting for almost 20% of the UK housebuilding market in 2010, up from 11% in 2004. MTW also point to government schemes such as the £500 million ‘Kickstart’programmes as having supported the industry, generating an additional 5,000 new social homes by the end of 2012. The report also identifies a number of fundamental changes in the social housebuilding market in 2010, such as a return to more traditional 2 storey house building, enabling housebuilders to maintain tighter control of costs and decrease build times..........read more

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Posted by ProTech at 4/9/2010 9:55 AM