According to the Construction Products Association, activity in the UK building industry will not return to pre-recession levels until 2017. Noble Francis, economics director of the CPA, called it a "lost decade" for the building industry as building has fallen by 13% since 2008. Housing starts rose 21% in 2013, compared to the year before, driven in part by government support, and the CPA forecasts an 18% rise this year and 10% in 2015. However, it warned that potential interest rate rises and post-election uncertainties over the future of Help to Buy could constrain growth. Commercial construction is also expected to improve and the CPA predicts 23.4% growth in the next four years.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment