Facebook Pixel
Private Sector New Home Construction Falls

Private Sector New Home Construction Falls

Posted on Tuesday, December 11, 2018

Construction output decreased by 0.2% in October 2018 compared with strong growth of 1.7% in September 2018, with new home orders taking the biggest hit.

The decrease in October 2018 was driven by declines in infrastructure (down 3.7%), public new housing (down 8.1%) and total repair and maintenance (down 0.8%); the largest contributor offsetting these decreases was private new housing, which grew by 2.4%.

Despite the slight month-on-month decline, construction output in the three months up to October 2018 was 1.2% higher than the previous three-month period; this growth was slower than in recent months, with a steady decline being seen from a 2018 high of 3.0% growth for the equivalent series in July 2018.

A historic high level of £9,221 million in the new work chained volume measure seasonally adjusted series was reached in October 2018; this represents the highest value seen since monthly records began in January 2010.

New orders grew by 3.4% quarter-on quarter in July to September 2018, with a strong increase in public other new work of 31.9% helping offset a 5.3% decline in housing new orders; despite this increase, levels remain below those typically seen over the last five years of new orders data.

 

For the full ONS breakdown, click HERE

 

 

Source: ONS

Website solutions for estate agents, lettings agents and property professionals


Find out more