Housing starts down by 24 per cent
Published Date:
16 May 2008
New housing starts tumbled by almost a quarter in the first three months of 2008 to their lowest level in 12 years as builders shelved projects in an ailing market.
Firms began work on 32,100 dwellings in England during the first quarter – 24 per cent below the same period in 2007 and the worst since 1996, said the Department for Communities and Local Government.
The Yorkshire & Humber region was worst-hit with new starts falling 41 per cent; the North West was down 30 per cent and the East Midlands declined 22 per cent.
The gloomy figures followed profit warnings from a host of housebuilders as property prices fall and mortgages become harder to obtain.
York-based Persimmon – the only housebuilder whose shares are still in the FTSE 100 – has put plans for new schemes on hold, as have many other building companies.
The full article contains 169 words and appears in n/a newspaper.
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Last Updated:
16 May 2008 8:19 AM
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Source:
n/a
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Location:
Yorkshire
