GB output down again
By Joe Malone15 August 2016
Construction output in Great Britain during the second quarter of 2016 fell 0.7% compared the first quarter of the year, and 1.4% year-on-year.
The latest report from the Office for National Statistics (ONS) noted that the downfall in overall output was caused by all new work – which decreased 0.8% – and repair and maintenance – which fell 0.5%.
The report also stated that, on a month-by-month basis, construction output in June fell 0.9% compared to the previous month.
Andrew Bridges, managing director of UK-based estate agents Stirling Ackroyd, said, “There’s been a dip in total new housing work – but housing remains a stable and reliable source of construction work.
“Brexit may not have put developers off building yet but this slow down needs to be reversed if enough new homes are to be built over the next few years.”
He added that work had dropped quarter-on-quarter, as well as the number of new homes approved in the capital – with a 22% drop in the second quarter of 2016, compared to the previous year.
He said, “But, as ever with construction and house building, it’s all about the pipeline. Next year will see huge construction projects like HS2 and Crossrail take centre stage – having a huge knock on benefit for housing and infrastructure opportunities.
“This will open up new areas of London and once the bricks start being laid momentum will keep growing. London desperately needs more homes to be built.”