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In the first quarter of 2024, the UK housing construction industry experienced a downturn in new home registrations and completions, according to the latest report by the National House Building Council (NHBC). This decline was influenced by a combination of economic challenges, labour shortages, and one of the wettest winters on record.
This data highlights the challenges faced by the UK housing market in the early months of 2024, with industry efforts to focus on affordable housing being undermined by broader economic pressures and adverse weather conditions. The slight improvements in some regions and specific housing sectors suggest a potential for partial recovery, depending on future economic and environmental factors.
The NHBC said: “Housebuilders are cautiously optimistic and it is encouraging to see signs of growth, with a month-on-month increase in registrations since January,”
Steve Wood, NHBC’s CEO, said: “This is despite a cumbersome planning system that continues to impede output and a national skills gap that means almost 225,000 extra workers will be required to meet expected UK construction demand by 2027.”
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