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Building industry faces worst decline for 30 years 27 October 2011

Construction activity is unlikely to return to growth until 2014, sparking the worst decline for 30 years, according to the latest Construction Industry Forecasts published by the Construction Products Association.

Since the start of the economic downturn in 2007, more than £32bn of construction activity has been lost.

Michael Ankers, chief executive of the CPA, said: “With both the commercial and housing sectors still performing badly, our latest Forecasts indicate that construction output will fall by more than 1% this year, a further 3.6% next year and no growth in 2013.

“Recovery finally arrives in 2014, but by then we will have experienced the worst decline in construction activity for more than 30 years. It is essential that more is done by the Government to kick start the economic recovery. ??“Despite the Government's desire to support housing recovery, housing starts in 2012 will be the second lowest year since 1945.

“Private sector housing is slowly recovering. Unfortunately, public sector housing starts are forecast to fall by a third, leading to an overall reduction in the total number of housing starts in 2011 and 2012.

“By the end of the forecast period we will have a shortfall of more than two million homes in the UK.”

He went on: “The Government must do more to stimulate house building and help first-time buyers on to the housing ladder. The announcement about the release of public sector land is welcome, but it is access to finance, not development that is currently holding back the housing market.

“The Government therefore needs to look at mortgage indemnity guarantee schemes, or government backed savings scheme for first-time buyers to help ease this situation.”

 

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