Construction sector grows regardless of price rises dealing ‘hammer blow’ to housing

Aug 04, 2023 at 11:37 AM
Construction sector grows regardless of price rises dealing ‘hammer blow’ to housing

T

he UK’s building sector returned to progress in July as an uptick in business work offset sharp falls for residential housebuilding, as rate of interest rises and cost-of-living pressures dealt a “hammer blow” to the housing market, an influential survey has discovered.

Builders noticed supply instances shorten on the quickest price final month since 2009.

The newest S&P Global/CIPS building buying managers’ index scored 51.7 in July, up from 48.9 in June and the best degree for 5 months.