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Housing starts drop 60% in a year

Housing gloom continues as NHBC reports falling start levels

Housing starts drop 60% in a year

Actual private housing starts registered only 6,890 last month, according to the National House Building Council, a fall of 56% compared with May 2007.

The number of public sector starts was also down, from 4,306 to 2,699.

The figures come in the wake of the gloomy re-forecasts by the Construction Products Association last week which predict that private starts this year will fall 27%.

Meanwhile, bankers Goldman Sachs are predicting three years of downturn for the sector in the light of continuing City unease about housebuilders.

About Fiona Russell-Horne

Fiona Russell-Horne
Editor-in-Chief across the BMJ portfolio.

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