UK housebuilding hits lowest since 1946

[AtW]

Housebuilding fell to its lowest level for more than 60 years in 2009 - with just 118,000 new homes completed, according to government figures.

The number is the lowest since 1946, when official records began and represents a 17 per cent drop on the number completed in 2008.

The Department for Communities and Local Government said that housing completions in England fell to 28,200 in the final three months of last year, down 3 per cent compared with the previous quarter and 12 per cent lower than the same quarter a year earlier.

The annual figure is less than half of the Government’s target of 240,000 homes a year and has been seized upon by housing charities campaigning to highlight the UK’s growing housing shortage.

More: http://business.timesonline.co.uk/to...cle7032641.ece

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Ok, so on one hand we've got Intel, AMD et al inventing and building insanely expensive Fabs that make amazing micro processors using nano-tech, yet there can't be build enough effing houses??!?!

[Gonzo]

Housebuilding fell to its lowest level for more than 60 years in 2009 - with just 118,000 new homes completed, according to government figures.

The number is the lowest since 1946, when official records began and represents a 17 per cent drop on the number completed in 2008.

The Department for Communities and Local Government said that housing completions in England fell to 28,200 in the final three months of last year, down 3 per cent compared with the previous quarter and 12 per cent lower than the same quarter a year earlier.

The annual figure is less than half of the Government’s target of 240,000 homes a year and has been seized upon by housing charities campaigning to highlight the UK’s growing housing shortage.

More: http://business.timesonline.co.uk/to...cle7032641.ece

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Ok, so on one hand we've got Intel, AMD et al inventing and building insanely expensive Fabs that make amazing micro processors using nano-tech, yet there can't be build enough effing houses??!?!

Also from the article

Economists pointed to planned cuts in public spending as a further threat to the Government’s council housebuilding programme, while housebuilders have blamed the ongoing lack of mortgage finance and shortage of available land for their inability to deliver more homes.

I suspect that it is more likely to be the case that the housebuilders are finding it increasingly difficult, or maybe impossible, to raise the capital to fund new developments with an increasingly uncertain housing market.

It would be interesting to know what happened in 1992/1993 by way of comparison.

[Halo Jones]

The small developers can not get the capital, the big developers are holding on to the land, dropping staff (all contractors) and waiting for the next price rise before they build.

Thankfully I am in comercial construction

[DimPrawn]

Thankfully I am in comercial construction

Thankfully you are not teaching English.

[Halo Jones]

Thankfully you are not teaching English.

As long as the contractors understand me its all good

[shaunbhoy]

Housebuilding fell to its lowest level for more than 60 years in 2009 - with just 118,000 new homes completed, according to government figures.

Woohoo! That ought to help sustain the prices for those of us fortunate enough to have had the sense to invest in bricks and mortar.

Boomed I tell ya!!!