House Building Helps British Construction Industry Post a Growth
Arslan Butt • 1 min read
Even amid Brexit uncertainties, Britain’s construction industry has been able to post a slight growth year-on-year, all thanks to house-building. In Q1 2019, 37,672 new homes were registered by builders for warranties and insurance at the National House Building Council (NHBC), three percent higher than in Q1 2018.
NHBC figures account for about 80 percent of the new homes’ market in the UK. Meanwhile, the commercial construction sector has been suffering due to reduction in business investment because of the Brexit chaos.
Construction activity accounts for around six percent of economic activity in Britain. According to the most recent PMI figures released by IHS Markit/CIPS, house building provided the only reason for growth of this sector in the UK during Q1 2019.