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House building forecast to grow 32%
26/04/10
Edited by Andy Jowett. The outlook for the private residential property sector offers builders a glimmer of hope in an otherwise gloomy report on the future of the construction industry.
According to the study by the Construction Products Association (CPA), activity in house building is expected to increase by 32 per cent between 2010 and 2012, Construction News reports.
However, the industry as a whole is expected to suffer a three per cent drop in output this year.
While construction is set to return to growth in 2011, activity will remain subdued until 2013, with the CPA predicting annual expansion of just one per cent over this period.
Michael Ankers, the association's chief executive, said that generally gloomy outlook is bad news for the UK as a whole.
"The construction industry is such a major part of the economy that it is hard to see how there can be a strong recovery while construction remains in recession," he commented.
According to Brian Berry of the Federation of Master Builders, around 90,000 new homes will be delivered this year against a target of 240,000.
