Housebuilding booms after Brexit lull
29th November 2016

Contracts to build homes rose by more than a third in value to £2.3billion last month over September, according to the latest Economic & Construction Market Review from industry analyst Barbour ABI.

The residential sector monthly contract value increased by 34 per cent in October when compared to September.

Michael Dall, lead economist at Barbour ABI, said: “The turnaround for housebuilding this month will give industry leaders, investors and the government well needed breathing room. However the majority of the other construction sectors continuing to lag after the post-Brexit vote is a cause for concern, particularly infrastructure and commercial & retail, two sectors that are usually accurate indicators of how the overall economy is performing.”

“Housebuilding now beginning to thrive is no major surprise, as the strain on housing stock and government targets have become a matter of national attention. What did actually surprise was the significantly large value of residential construction contract this month, reaching £2.3 billion, the highest monthly figure ever recorded for residential construction since Barbour ABI reporting began back in October 2010.”