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Press Release: UK House Building Market Development Report

Released: June 2010

After researching the UK house building market development and taking into account various other factors the following conclusions can be drawn from MBD's report:

Market Review 2005-2009:

The UK housing construction market, which incorporates both public and private housing, declined by 17% in 2008 and by an even stronger 28% in 2009, taking output to £14.59 billion. This is in contrast to growth of 15% recorded between 2005 and 2007. During the first half of the review period the proportional importance of the sector to total new construction output remained relatively stable at between 39% and 40%. In 2008, however the share of the sector declined to 34% and in 2009 to 31%. This downward trend is largely a reflection of the economic downturn and the credit crunch, leading to a significant downturn in the housing marked. This resulted in housebuilders significantly scaling back new build projects in the private sector.

Market Forecast 2010-2014:

Private housing output in Great Britain is forecast to increase by a moderate 2% in 2010, reflecting improvements in the wider housing market. However any growth in output will be from a low base, as previously private housing output declined by a significant 19% and 34% in nominal terms in 2008 and 2009 respectively. MBD expect private housing output to return to stronger growth form 2011 onwards, with annual growth of between 6% and 10% projected for the years 2011 to 2014. Overall, output is anticipated to increase by 38% in real terms between 2009 and 2014. Growth is expected to be driven by the continued housing shortage and rising population.

Note to Editors:

MBD specialises in business to business market research. The range of reports and industries in which we operate in is constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.

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