Signs Of Recovery For The Building Trade?

19th July 2009

The building trade is showing a slow increase in activity over the last three months according to the National House Building Council (NHBC). House prices, however remain nearly 30% lower than at the same period last year when concerned with new builds. A lot of prospective, first time buyers are feeling it could be a good time to get onto the property ladder because of the various incentives to buy. House prices are indeed lower, although the trouble now is the reluctance of the banks to lend for mortgages, although, they are still lending to the select few who can prove their financial stability.

There has been a 7% increase in building new homes over the period of March to May of 2009 but is this just a blip in the overall trend or is showing the start of a slow recovery for the housing industry? The NHBC will not declare this trend as the beginning of better times at this point but have admitted it could be the start of recovery.

What is true is that builders lucky enough to still be working, are finding themselves taking pay cuts or working on a part time basis. Many of these workers fear for their jobs when they have been cut back so much.


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