A majority of people renting in the UK say they will NEVER be able to afford a home – although they would like to buy their own place. And almost 4 in 10 of those renting are stuck in cold, damp properties with landlords unwilling to do basic repairs and maintenance. The plight of those renting in 2019 in the UK is highlighted in a new YouGov survey on behalf of the HomeOwners Alliance and BLP Insurance.
Construction buyers have reported the sharpest fall in construction output since March 2018, as lower volumes of commercial and civil engineering work offset a modest increase in house building. That’s according to the latest IHS Markit/CIPS UK Construction Activity Index, which reported a score of 48.6 in May, down from 50.5 in April, where anything below 50.0 represents a fall in activity. It is the lowest reading since the snow-related downturn in construction output during March 2018.
Following the release of today’s Construction PMI figures, Phil Harris, Director at BLP Insurance, comments on the sector: “After bouncing back into expansion territory (50.5) following a two month period of contraction, it’s time for the construction industry to collectively stop ‘kicking the can’ down the road. The industry has been waiting with bated breath for some time for a Brexit resolution to give clarity amid palpable uncertainty. The extension of the Brexit deadline to the end of October, although not providing the assurance the sector seeks, means industry players can no longer afford to sit on their hands."
Following the release of today’s Construction PMI figures, Phil Harris, Director at BLP Insurance, comments on the sector. “After slipping into contraction last month, it was unsurprising to see little positive momentum in today’s PMI figures. The ‘Beast from the East’ ravaged the sector last March, but a year on and the market has been snowed in by Brexit. Ongoing negativity was added by Interserve, the second significant construction player after Carillion to dance on the edge of the abyss. The lenders’ bailout may have averted disaster but uncertainty remains rife for subcontractors worried about getting their pay cheques, let alone the sustainability of the big players’ business models."
A large-scale survey by a consumer group has revealed that over half of home owners regard stamp duty as a growing problem; conveyancers’ fees, the rise of gazundering and threat of negative equity are increasingly worrying too. The HomeOwners Alliance's annual survey - involving a sample of 2,000 and regarded as a snapshot of home owner sentiment - lists a range of issues that are of increasing concern for the home-owning public.
Britain's housing crisis stretches far beyond just not being able to save a deposit - with millions now trapped in suffocating leaseholds. Leasehold properties and the current lack of housing stock form the two biggest property issues right now, according to a report.
Following the release of the recent Construction PMI figures, Phil Harris, Director at BLP Insurance, comments on the sector. "After skirting precariously close to the abyss, the construction sector has fallen into contraction (49.5) for the first time since March 2018. The main symptoms are a fear of a potential Brexit cliff face, lethargic commercial activity and major concerns about the long-term viability of Help to Buy."
UK construction activity declined in February for the first time in eleven months led by a drop in commercial building work. Civil engineering work also fell but residential construction continued to grow for the 13th consecutive month, according to the IHS Markit / CIPS Construction purchasing managers’ index (PMI).
The construction sector could only need a 'small nudge' to fall into recession after suffering another slowdown as Britain’s builders stay put amid growing Brexit uncertainty. The latest Markit/CIPS UK Construction purchasing managers' index dropped to 50.6 for January, from 52.8 in December, marking the slowest growth since March last year. By Camilla Canocchi for Thisismoney.co.uk
Construction industry slows down amid worrying political and business backdrop – following the release of the Construction PMI figures, Phil Harris, Director at BLP Insurance comments on the sector...