The worth of new housing developments on which construction work started was down by 27% in June in comparison with a year earlier, in line with the most recent index from Glenigan.
However, on a quarterly foundation there was a modest enchancment, with the worth of new housing begins up by 6% on the earlier three months.
The findings come as a buying and selling replace from Barratt Developments as we speak revealed a slowdown in housing completions.
Glenigan economist, Drilon Baca, says: “The election had a substantial impact on trade behaviour, leading to a project-start slowdown as companies took a ‘wait and see’ strategy.
“Looking ahead, the brand new authorities’s determination to quickly seek the advice of on reforms to the National Planning Policy Framework has unlocked alternatives for the constructed atmosphere.
“The re-introduction of necessary housing targets ought to assist to ease the backlog of main housing websites, offering a lift to the trade.”
