ONS construction output: Urban Exposure comment

Corry Bourke, Director of Portfolio Management at Urban Exposure, a leading residential development finance provider, comments on the ONS data on construction output:

“The figures highlight that the UK is struggling to build enough homes as well as the constraints in the sector regarding planning, the shortage of key materials and a skilled workforce.

“Despite the slowdown in construction output, there is optimism in the industry as the PMI is above 50, but it will be essential for the government to bring forward its programme to build 400,000 new homes. Equally it’s important that some of the £7bn being pledged is used to tackle the skill shortages to ensure productivity gains are achieved in the near future.”