House construction levels 'remain flat'

Posted: 23 Nov 2011 15:05:19 GMT

The construction sector has struggled in the third quarter.

House construction levels in the UK remained flat over the third quarter of 2011, new research has shown.

According to the latest Construction Market Survey from the Royal Institution of Chartered Surveyors (Rics), one per cent more chartered surveyors saw their workloads fall rather than rise during the three-month period.

In addition, it was found many respondents are pessimistic about the future, despite the government announcing plans to help bring the housing market back to life.

Simon Rubinsohn, chief economist at Rics - which has over 50,000 students and trainees, as well as around 100,000 qualified members - cited a combination of significant cuts in public sector programmes, a lack of finance for development and economic uncertainty as reasons for the trend.

The industry figure added: "The government's housing announcement should gradually provide some much needed help and we are particularly attracted to the provision of funds for small and medium size developers."
 

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