Housebuilding falls

The level of housebuilding in the UK has hit a four-year low, it has been revealed.

Figures from the Department for Communities and Local Government (DCLG) showed that the number of starts on housebuilding was down ten per cent in the fourth quarter of 2007 from the same period a year earlier, at 37,900.

The figures reflected a notable dip in the rolling total during the course of 2007, with each quarter of 2007 showing a lower 12-month rolling number of starts that its 2006 equivalent.

Completions were up but this figure will soon fall as a consequence of the declining number of starts, Royal Institution of Chartered Surveyors economist David Stubbs told the Times.

He said: "Completions are bound to fall as housing starts have now been falling for the past two years."

With a reduction in the construction of new houses, the availability of new homes may decline further.

One alternative strategy for those wanting to get on the housing ladder is the self build option.


© Adfero Ltd