Are we seeing the start of a housing development slowdown?

house building construction site

Three different sets of official data suggest housebuilding activity is slowing. But many in the sector are bullish about growth. What’s going on? Joey Gardiner finds out

Lots has been written in the national press in recent weeks about a supposed imminent crash in the UK housing market  in the face of the darkening economic climate. Many housebuilders, however, will treat these predictions with some degree of scepticism. In the real world of buying and selling new build properties, all the data suggest that demand remains extremely high – just last week Rightmove found asking prices had risen another 2.1% in the last month. Official figures show prices up 10% year-on-year. The Royal Institution of Chartered Surveyors (RICS) meanwhile, said new buyer enquiries increased last month – the eighth consecutive month they have done so.

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