Economic forecast

Article Abstract:

New house sales in the UK will total around 130,000 units in 1995, the same as in 1994, according to Barclays Bank. There is unlikely to be any improvement in the early part of 1996, but the market could revive later in the year if consumer confidence improves. Repair and maintenance spending in the housing sector will decline for the rest of 1995, and continue to do so in the first half of 1996. In the commercial sector, output is expected to decline by 2% in 1995 but rise by 5% in 1996.

Single Family Housing Construction, 1-Family Housing, Residential construction, Single family housing

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Warming signals

Article Abstract:

Construction output in the UK is predicted to reach 50.94 billion pounds sterling in 1995, up 1.9% from previously. Sales of new houses are forecast to grow by 12% to 140,000 units during the year, while there should be a modest recovery in office building work. Public sector spending plans suggest that there may be a slight increase in public sector building activity during 1995, followed by a fall in 1996. Infrastructure building is set to continue falling in 1995.

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Economic forecast

Article Abstract:

The increased rate of growth in construction output seen at the end of 1994 will not be sustained in 1995, according to Barclays. Output will rise by around 2.5% in 1995, and this rise will increase only slightly in 1996. Activity in the housing market is likely to be restricted by higher interest rates and increased taxes, and the public sector will be affected by cuts in central and local government capital spending.

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