Recent reports suggest that UK construction remains in “rude health”, writes Sahel Majali.
The UK’s property market continues to provide developers with new construction up and down the UK, according to the Office of National Statistics (ONS).
UK house prices grew by 6.1% year-on-year for September, a 0.6% rise on the previous month. According to a recent study from Nationwide, doesn’t have enough residential property; supply is now lower than it’s been since the 1970s.
Rising demand
This high demand low supply ratio also characterises the UK’s commercial property market. The chief economist at the Royal Institute of Chartered Surveyors (RICS), Simon Rubinson, explained: “We’re seeing a solid increase in demand for commercial properties across retail, office and industrial sectors. In other words, at the moment, however badly rental costs might pinch, they do not appear a barrier to growth.”
Read in full on Sahel Majali's blog.
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