Housebuilding rate slumps

The UK saw the steepest fall in housebuilding since May 2020 in April 2022 as a result of a combination of factors, including high mortgage rates, falling buyer demand and the Government's decision to scrap certain targets. Housebuilding fell for the fifth consecutive month to 43 on the S&P/CIPS UK construction purchasing managers' index, which marks a contraction below 50. The Government's planning policies are expected to see house building in England drop from 233,000 to 156,000 a year, less than half of a target of building 300,000 homes a year by the mid-2020s. 

The Daily Telegraph (06/05/2023)   The Times (06/05/2023)