Construction Industry News – Late July 2024
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Brighter weather in May brought a return to growth for the British construction sector in May.
According to Office for National Statistics estimates, Great Britain’s monthly construction output is estimated to have grown by 1.9% in volume terms in May 2024. This follows a fall of 1.1% in April 2024 (revised from a fall of 1.4%). The increase in monthly output came from increases in both new work (up 2.7%), and repair & maintenance (0.8%). https://www.theconstructionindex.co.uk/news/view/may-ons-output-rises-19
Latest data from National House Building Council (NHBC) reveal that current building volumes must double to meet Labour’s 1.5 million new homes pledge.
Figures released by the NHBC, the UK’s largest provider of new home warranties and insurance, show that 29,281 new homes were registered to be built in the second quarter (Q2) of 2024, down 23% on Q2 2023 (37,861). There were 33,847 new homes completed in Q2 2024, which 6% down on Q2 2023 (36,145).
