Property & Finance Market Updates - Hosted by Cator Wells
Property & Finance Market Updates - Hosted by Cator Wells
February 4, 2025 at 09:13 AM
*Construction slump challenges Rayner's ambitions* Construction activity in Britain's major cities has significantly declined, presenting a formidable challenge for Angela Rayner, the Deputy Prime Minister and Housing Secretary, as she aims to stimulate a building boom. According to Deloitte's regional crane survey, new project starts fell by 27% in 2023, with the number of homes under construction dropping to 23,673. Despite a 57% increase in completed homes, the sector is hindered by political uncertainty, high interest rates, and stringent regulations. Zoe Davidson from Deloitte noted that the Government's building safety regulations have "added complexity and lengthened timelines" for residential projects.

Comments