Is house building finally coming out of the doldrums?
Two leading organisations in the house building industry have reported a slight improvement in trading conditions. The National House Building Council (NHBC), which monitors standards in the industry, has noted an increase in applications to start new homes. And the Home Builders’ Federation (HBF) says that its members are more optimistic than at any time in recent months. Both groups go out of their way to stress that they are not announcing the recovery is officially underway. They emphasize that the building trade is still at a low ebb, with levels of activity well below last year. Signs of recovery But the more upbeat tone is a contrast to the bleak mood in midwinter. The NHBC provides warranties on new homes. It says that registrations by industry members to build new flats and houses were 29% lower in May than the same month in 2008, compared to a 44% year-on-year drop in April and 54% in March. Over the three months to May there was a 7% increase on the previous quarter. The HBF
