Social housing starts on the rise
Social housing project starts increased by 19 per cent in the three months to July, according to the latest Glenigan construction figures.
Three social housing refurbishment projects in London, with a value of £180 million, accounted for a significant portion of the increase. Two of these projects were commissioned by Homes for Islington and the other is a 21,000 homes repair project for the London Borough for Tower Hamlets.
Overall, the underlying value of construction project starts across all sectors was 8 per cent lower than a year ago as the rate of decline slowed.
James Abraham, economist at Glenigan, said: ‘The South West, West Midlands and South East all experienced growth in project starts in the three months to July, while the North East, East Midlands and Scotland experienced the largest declines. In other sectors, private housing saw a 24 per cent year on year decline in project starts.’