New home construction figures are 'bleak'

Posted: 11 Dec 2009 11:56:19 GMT

Recent figures showing that the number of new homes being built has fallen over the last three months are "bleak", according to one industry specialist.

Nick Whitten, business editor at Construction News, says that the current slowdown in the housing market comes at a point of very low figures. He adds: "The further it goes the ever more bleak it is."

The comments come in response to figures from the Office for National Statistics, which reveal that new construction orders have fallen by five per cent over the last three months.

Additionally, the data shows that orders in the 12 months up until October 2009 fell by 19 per cent year-on-year.

Mr Whitten went on to state that there was nothing "of cheer" in the pre-budget report to suggest that there would be any government measures to stimulate the construction industry.

According to the department for Communities and Local Government, housing completions in the UK were down by 12 per cent in the third-quarter of 2009, compared to the same period last year.

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