The ONS have released their Construction Output in Great Britain: January 2017 and new orders October to December 2016. Figures show that construction output fell by 0.4% in January 2017 compared to December 2016, however output grew by 1.8% on a 3 month on 3 month basis. New orders fell by 2.8% in Q4 2016, driven mainly by falls in private industrial and private commercial work. Yet despite new orders falling in Quarter 4 of 2016, the annual volume of new orders is now at its highest level since 2008.
The Markit/CIPS UK Construction PMI February 2017 report shows a modest rise in construction activity growth from January 2017. The Index registered 52.5 in February 2017, a slight increase from 52.2 in January 2017, underpinned by an upturn in civil engineering activity. Complementing this, the latest Economic & Construction Market Review from Barbour ABI, shows all construction activity increased in January 2017 as new contracts awarded increased by 11.3% compared to December 2017. Yet the Glenigan Index February 2017 shows the value of work starting on site in the three months to February was 1% lower than during the same period a year ago, 3% lower than during September to November 2016.
Latest figures from Eurostat show that output in the construction sector across the Eurozone fell by 0.2% in December 2016 compared to November 2016, and grew by 0.6% across the EU28, which includes a 2.2% rise in the UK.
UK Construction PMI - February: 52.5latest home registration statistics for January 2017 showing that, 11,651 new homes were registered in January, an increase of 14% from 10,248 when compared to 12 months ago. Yet new research from Shelter and YouGov shows that new homes are out of reach for 83% of working families who are privately renting, concluding that the current system of housebuilding in England is failing them, by producing highly-priced, poor-quality homes.
The Halifax House Price Index reports in February 2017 house prices increased by 0.1% compared to January, yet the annual house price growth rate has declined to 5.1%, from 5.7% in January, the lowest since July 2013. The Nationwide House Price Index report shows that in February 2017 house prices were 0.6% higher than January and in contrast to Halifax show annual house price growth increasing to 4.5%, from 4.3% in January.
Source: Competitive Advantage Consultancy Ltd