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Construction Market Activity March 2013

16th April 2013


The ONS has released figures for New Orders in the Construction Industry. These figures show that in Q4 of 2012 total volume of new orders in the construction industry increased by 3.4% compared with Q3 of 2012, showing some signs that the construction industry is improving. But the ONS also released their Output in the Construction Industry figures for January 2013. These show that the total volume of output in January 2013 was 7.9% lower than in January 2012, and fell by 6.3% compared to December 2012.

 

For February the Nationwide House Price Index reported that prices rose by 0.2%, bringing the price of a typical house to £162,638. The Halifax House Price Index reported house prices rose by 0.5%, meaning that in the 3 months from December 2012 to February 2013 house prices were 1% higher than the previous 3 months. Halifax has reported that this is the third consecutive increase in prices.

 

Against the background of rising house prices, four large house builders have announced increases in pre-tax profit. Barratt Homes have announced interim results for the six months ending 31 December 2012, which shows they have increased their pre-tax profits by 113%. Bovis Homes released preliminary results for the year ending 31 December 2012, which show increased pre-tax profits of 69%. Redrow PLC also announced their interim results for the six months ending 31 December 2012, showing a 50% increase in pre-tax profit. Finally Persimmon has announced their final results for 2012 which shows a 52% increase in their pre-tax profit. All of these house builders increasing profits means that the housing market is the strongest is has been since the start of the recession and is showing signs of improving, at least for the larger house builders.

 

Article published at www.voltimum.co.uk.

 

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