Construction output sees first quarterly decline since 2012
Construction output fell by 0.9% in Q3 2017, representing the first consecutive quarterly decline in current estimates of construction output since 2012, the latest ONS Construction Output has revealed.
The reason for decline in output is due to the decreases in both repair and maintenance, which fell 1.4% and all new work which fell 0.7%.
Repair and maintenance also fell in the month-on-month series in September 2017 by 2.1% compared with the previous month.
The strongest positive contribution in this time frame came from housing new work, with private housing growing £138m and public housing expanding by £65m.
The private commercial sector saw a month on year fall of 1.3% which is the first decline in the private commercial sector since September 2015.
Andy Somerville, director of Search Acumen, said of the findings: “Today’s figures show the foundations are being laid to stop the gap widening further between UK housing supply and demand.
“However, we’re treading water. If we are to address the UK’s critical shortfall of homes and return the dream of homeownership back to the realm of reality, we must embark on the greatest housing boom this country has seen in a century.
“This cannot be achieved by industry forces alone. With the Autumn Budget around the corner, it is the housing deficit the government must address, if the UK is to preserve its status as a nation of homeowners.”